Sunday, February 25, 2024

House prices highest in Manchester

Manchester has become the latest UK property hotspot, after it was revealed today that property values in the city increased faster than any other in the country.

Values in Manchester rose by 8.8% in February compared with the same month a year earlier thanks to a surge in transactions, while Portsmouth saw the second highest annual house price growth last month, with an increase of 8.1%, as buyers return to the market supported by an improving jobs market and record low mortgage rates.

According to the Hometrack UK cities house price index, which tracks price movements across the UK’s 20 biggest cities, Bristol also experienced high price growth, with an 8% increase in property value last month, although is down sharply from the annual house price increase of 12% in the 12 months to February 2016.

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