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House Prices in Cities to Increase 10% This Year

Published On: July 24, 2015 at 2:05 pm

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Categories: Property News

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House Prices in Cities to Increase 10% This Year

House Prices in Cities to Increase 10% This Year

House prices in UK cities are 8.4% higher than they were 12 months ago and could be 10% higher by the end of this year.

Hometrack claims that house price inflation in the UK’s largest cities was 6.4% in the first half of 2015.

The average price of a home in the city is £226,200, according to Hometrack.

It also says that house prices in most cities are above their 2007 peak.

Cambridge has experienced prices rising the highest over their peak, at 40.2% growth. London follows at 37.8% and Oxford at 32%.

Some cities have not recovered after the financial crash, including Belfast, which has seen prices drop by 47.8% since the 2007 peak. Liverpool at 14% below, Leeds at 5.5% and Manchester at 4.3% have all seen prices fall.