House price growth continued to remain stable across major cities in the UK in November, registering an average 2.6 per cent increase in prices.
According to the latest UK Cities House Price Index from Hometrack, Edinburgh and Manchester are leading the house price growth with 6.6 per cent, followed by Birmingham (6.3 per cent) while Nottingham saw house prices surge by 5.7 per cent last month.
Other cities registering house price growth of above 4 per cent in November were Liverpool and Leicester (5.3 per cent); Cardiff (5.1 per cent); Newcastle (4.8 per cent) and Leeds (4.7 per cent).
Manchester, Liverpool, Cardiff, and Newcastle have registered house price growth, which is higher than the corresponding period last year. UK city house price growth is projected to be 2 per cent in 2019, as regional cities are likely to register above average price growth, Hometrack said.
The house price growth is along the predicted lines, as the Brexit deal is still pending. Assuming that the Brexit deal gets through in the coming days, house price growth will bounce back in 2019, as demand picks the pace, especially in London. The strong fundamentals of the UK property market offer favourable conditions for growth in house prices.
The 20-city index is registering house price inflation of 2.6% - Hometrack