Property prices in cities like Manchester and Liverpool are rising fast

The heat in London’s property market is fading fast, with house prices in the capital growing at their slowest pace since June 2013. Property prices in London are now around 85 per cent higher than they were in 2009, with the average home costing over £480,000.

While the capital’s housing market is cooling, house price growth in popular cities like Bristol, Manchester and Liverpool is surging. In Manchester, property prices have gone up by 8.3 per cent to an average of £150,600, while in Liverpool they have increased by 7.1 per cent to just above £116,000.

Growth in London has been superseded by large regional cities such as Manchester, Liverpool and Birmingham.

UK CITIES ANNUAL HOUSE PRICE GROWTH HIGHLIGHT
Manchester, £150,600, 8.3%
Birmingham, £147,400, 7.4%
Liverpool, £116,200, 7.1%
London, £486,600, 6.4%
Leeds, £154,700, 5.5%

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Photo: Internet