Northern cities see biggest house price growth

Northern cities see biggest house price growth

Northern cities see biggest house price growth

Zoopla

Sheffield, Glasgow and Manchester top list as property values in urban areas continue to rise.

Sheffield is experiencing more house price growth than other big cities in the UK, new research from Zoopla has revealed.

Total residential property values of the Steel City have risen by 5.63% in the past year, followed by Glasgow (5.38%) and Manchester (4.49%).

Homes in Sheffield are now worth a combined £55,698,871,773, putting it 10th on the list of total property values, narrowly behind its South Yorkshire neighbour Leeds.

Above: This four bed Georgian end terrace in the popular Broomhall area of Sheffield will set you back £250,000

But while London has witnessed the lowest growth of the top 10 – just 1.54% – its staggering worth of £1.5tn is over twice the value of the next nine largest cities combined.

The data does show that, in comparison to cities further north and across the Scottish border, the rate of growth in London has slowed,” Zoopla spokesperson Lawrence Hall said.  

The capital may be worth almost 10 times more than Sheffield, but Britain’s Steel City wins in the growth rate stakes.

The most valuable neighbourhoods in each city were also analysed, with London’s SW1 district, which includes Westminster and Belgravia, topping the list with a value of £54.6bn.

Top 10 cities by total property value:
RankCity/townPercentage growth in last yearJanuary 2018 value
1London1.54%£1,506,705,189,900
2Bristol3.80%£115,207,474,096
3Glasgow5.38%£90,750,982,705
4Birmingham4.08%£81,663,640,814
5Manchester4.49%£80,478,598,208
6Edinburgh4.04%£68,271,091,728
7Nottingham3.69%£66,136,609,714
8Reading2.37%£60,555,052,948
9Leeds4.20%£59,053,360,365
10Sheffield5.63%£55,698,871,773

Source: Zoopla, January 2018

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