There has been house price growth of 5% or more across the top 20 UK cities for the first time in a decade.
Hometrack’s UK Cities House Price Index said the three cities with the highest house price growth year-on-year were London (17.3%), Bristol (13.2%) and Cambridge (12.2%).
However, it did warn that momentum in these markets is beginning to slow.
The lowest house price growth was recorded in Glasgow (5.5%) and Liverpool (5.5%), but the cities are continuing to see an acceleration in the rate of growth.
Richard Donnell, research director, Hometrack, said: “The pick-up in house prices that started two years ago has spread across all UK cities with growth ranging from 5.5% in Liverpool and Glasgow to 18% in London. This latest analysis shows that momentum in house price increases is starting to slow with less pent-up demand for housing than two years ago.”
