UK CITY HOUSE PRICES SLOWING
Ramshaw Removals have been keeping an eye on the UK Cities House Price Index, which has revealed a slowing of the price growth of houses over the last three months. This has been led by a deceleration in high priced cities across the south and in particular, London.
The annual rate of house price increase for the 20 main UK cities slowed to 9.5% in July, this was following 12 months of higher growth. This shift in momentum was mainly down to the growth of a number of cities in southern England stalling in the last quarter. In this period London only rose by 2.1% and Bristol, which has been the fastest growing city over the last 12 months, saw growth drop to 2.6%.
??House price inflation in many large cities in the north of England and Scotland show no signs of slowing. Annual house price growth in Leeds, Manchester, Birmingham, Liverpool and Nottingham continued to rise by between 7% and 8%.
This is good for the northern regional cities that will continue to show solid growth as the north benefits from record low mortgage rates and affordability still remains good.
Brexit may have had an effect on Ramshaw Transport’s European removals services with people holding off with the uncertainty this brought but the industry opportunities within our heartland look more promising.
Posted: 09/11/2016
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