Hometrack has released its UK Cities House Price Index for February revealing that the divergence in house price growth between southern England and regional cities continues with overall HPI at 5.2%.
The headline rate of growth across London has slowed to just 1%, down from 4.3% a year ago. This is the lowest annual rate of growth since August 2011. Over the last 3 months average prices have increased by just 0.4%, well down on 5% growth recorded per quarter recorded in 2014
Half of the 20 cities covered by the index are registering higher annual growth than a year ago. Five cities are registering growth of more than 7% per annum, these are Edinburgh, Liverpool, Leicester, Birmingham and Manchester.
Ten cities are growing at a slower rate than a year ago with the greatest slowdown in Bristol, Southampton and London as affordability pressures impact market activity and the upward pressure on house prices.
The full report is available to download here