Manchester Registers Highest Annual Price Growth
25th July 2018
The Hometrack UK Cities House Price Index June issue, has highlighted Manchester as the UK’s city with the highest year-on-year house price growth rate of 7.4%, followed by Liverpool (7.2%), Birmingham (6.8%) and Leicester (6.5%).
It comes as no surprise that Manchester also has the lowest level of discounting (2.2%) across England and Wales as prices remain on the upward curve.
Added to this, a recent report from GoCompare identifies Manchester as the best place to be a landlord in the UK, as the city records the highest average rental yields and highest rental market growth. Other notable figures from the report include :
# UK city house price inflation 4.6% year on year ranging from +7.6% to -2.8%.
# 3-month growth rate in London increases as sellers become more realistic on pricing. The discounts from asking prices in London are narrowing which is a positive for sales volumes.
# Manchester has the lowest level of price discounting and the highest annual growth rate.
The report goes on to say that they expect current trends to continue into the second half of 2018 as housing market forces continue to play out against the backdrop of rising employment and low mortgage rates. The main risks on the horizon are the timing and scale of any increase in mortgage rates and how the BREXIT negotiations unfold in the coming months and in the run up to March 2019. Click here to view the full Hometrack report.
With such strong economic fundamentals underpinning the property market in the North West, Manchester should be on every investors radar. View our current new build and off plan residential developments and register your details below to receive more details on all our investment opportunities and new development launches.