House prices in Birmingham, Nottingham and Portsmouth have grown at the fastest rate in more than 10 years, helped by low mortgage rates, a healthy jobs market and higher incomes, figures from Hometrack show.
Prices in Portsmouth rose by 9.2%, the highest increase since November 2004. Nottingham’s increase was the fastest in 11 years, while Birmingham’s was the highest since May 2005.
Glasgow and Leeds also fared well, recording the fastest rate of growth in eight years. Aberdeen was alone among major UK cities in recording a fall in prices, down 1.9%, largely as a result of the slump in the oil price.
