House prices in Leicester rose by 6% over the 12 months to January 2019, the fastest rate in the UK, although down slightly from 6.2% in 2018.
Leicester recorded the highest growth, followed by Belfast at 5.8%. Manchester came in third at 5.4% growth, down from 6.4% in 2018.
Nottingham strongest fundamentals
With an average asking price discount of just 2% and less than 8 weeks to achieve a sale, Nottingham has the strongest fundamentals. House prices in Nottingham are currently holding steady at 4.6% taking the average house price to £151,900.
Outlook for rest of 2019
The latest data from Hometrack shows house sales in line with the 5 year average, with first time buyers being the largest group in 2018. Whilst uncertainty has impacted the rate of growth, demand for housing is holding up better than many expected.
With underlying market conditions remaining strong across many cities Hometrack believes there is potential for further price increases once the outlook becomes clearer.