UK Property News Flash
2017-12-14
Headline growth up to 6.1%
UK City house price inflation has increased to 6.1%, the highest rate of growth since September 2016 and above the UK average growth rate (4.7%). House price growth remains robust in regional cities where affordability levels remain attractive and unemployment continues to fall.
Manchester fastest growing city
Manchester (7.9%) and Birmingham (7.3%) are registering the fastest rate of growth. House prices in Aberdeen continue to fall (-3.1%) while the rate of growth across London continues to stabilise (3.0%) supported by tightening supply and lower turnover.
UK City house price inflation has increased to 6.1%, the highest rate of growth since September 2016 and above the UK average growth rate (4.7%). House price growth remains robust in regional cities where affordability levels remain attractive and unemployment continues to fall.
Manchester fastest growing city
Manchester (7.9%) and Birmingham (7.3%) are registering the fastest rate of growth. House prices in Aberdeen continue to fall (-3.1%) while the rate of growth across London continues to stabilise (3.0%) supported by tightening supply and lower turnover.
October we have updated our annual analysis of housing affordability. This reveals the house price to earnings ratio in London has reached an all-time high of 14.5x (fig. 2). Oxford, Cambridge and Bournemouth also have double digit price to earnings ratios. Strong house price inflation in Bristol has pushed the ratio to 9.7x. These cities have affordability ratios that are 20% to 40% higher than the 15-year average (fig.3).
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