UK city house price inflation is running at +3.9% as the impetus for price growth increases in regional cities with attractive affordability and positive price growth in London (+1.9%) supporting the headline growth rate.
City house price growth is at a 2-year high, supported by a combination of flat to falling house prices in the latter parts of 2018 falling out of the annual growth rate and increased demand and more sales.
Cities in the North and Midlands registered stronger price growth during the year than many cities in the South of England.
There is much focus on how much the demand for housing has ‘bounced’ in the early weeks of 2020. Looking at the 4 weeks to 20 January 2020, demand for housing across UK cities is, on average, 26% higher than the same period in 2018 and 2019.
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