The fastest growing city in the UK
Liverpool is the fastest growing city in the UK, with house prices growing by 7.5% in the year to August 2018.
The latest data from Hometrack shows an average home in Liverpool will cost £120,100, 4% lower than the record highs of 2007.
In fact, Liverpool is one of only four cities in the UK where house prices are still below the highs of 2007. The other cities are Aberdeen (-4%), Newcastle (-2%) and Belfast, where house prices are still a massive 41% lower than the 2007 highs.
UK house prices rise 3.9%
Overall, house prices have increased by 3.9% in the year to August 2018, an increase from the 3.6% a year ago.
House prices fell in three cities due to economic and affordability pressures. These were Aberdeen (-3.8%), London (-0.3%) and Cambridge (-0.1%).
Brexit and the London slowdown
The impact of Brexit has, so far, focused mainly on south eastern England, and primarily London.
With house prices in London still 57% higher, relative to the 2007 highs, prices in London may continue to fall.
In other parts of the country, especially in the North, where house prices are more affordable, we are continuing to see a modest rise in house prices.
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