INSIGHTS ON UK HOUSE PRICE INDEX AND UK HOUSING MARKET TRENDS
Rising demand and a lack of new homes coming to the market for sale will keep an upward pressure on house prices in the near term, especially in the more affordable parts of the UK. Liverpool city has annual growth running at a 15-year high.
Date: 27 Jan 2021
- The annual rate of UK house price growth is 4.3%, the highest since April 2017
- House price growth is at a decade high across – North West & Yorkshire and the Humber since 2007 - main cities including Manchester, Liverpool, Leeds, Sheffield, York, and Hull, etc.
- Liverpool has jumped to the top of the growth rankings with house prices rising by 6.3% over the last 12 months – this is the highest annual growth rate for 15 years
- Manchester is close behind with a growth rate of +6.0%, back to levels of inflation last seen 2 years ago
- Leeds, Sheffield, and Birmingham house price growth has reached 5.8%, 4.7%, and 4.2% respectively
- Demand for homes in the first 2 weeks of 2021 has rebounded faster than last year which is up 13%