Britons looking to purchase a new property in the UK will want to know where house prices are rising and where they are falling.
Zoopla’s latest House Price Index revealed the annual percentage change in house prices across UK cities.
The data showed that the annual rate of UK house price inflation is now static at 0 per cent in May 2024, up from a low of -1.3 per cent in November 2023, and +1.6 per cent a year ago.
House prices continue to register annual price falls across southern England at a slowing rate.
Houses in Belfast have seen an annual increase of 3.4 per cent
GETTY IMAGES
However, prices continue to increase across the rest of the UK, with an annual rise of 3.3 per cent in Northern Ireland.
Property experts behind the research see “no evidence that price rises will pick up speed in the coming months”. However, UK house prices are set to be 1.5 per cent higher at the end of 2024.
Britons thinking of buying in several UK areas should note that properties will likely be more expensive than this time last year.
According to the newest data, the highest annual change in house prices was in Belfast, increasing by 3.4 per cent.
Annual percentage change in house price
- Belfast: 3.4 per cent
- Manchester: 1.6 per cent
- Sheffield: 1.3 per cent
- Glasgow: 1.3 per cent
- Cardiff: 1.2 per cent
- Liverpool: 1.2 per cent
- Newcastle: 1.2 per cent
- Birmingham: 1.1 per cent
- Leeds: 0.9 per cent
- Edinburgh: 0.2 per cent
- Bristol: -0.2 per cent
- Nottingham: -0.2 per cent
- Southampton: -0.3 per cent
- Leicester: -0.5 per cent
- Oxford: -0.9 per cent
- Cambridge: -0.9 per cent
- Portsmouth: -1.2 per cent
- Aberdeen: -1.3 per cent
- Bournemouth: -1.5 per cent
Manchester had the second highest annual change, with house prices increasing by 1.6 per cent.
The third highest annual house price change was in Sheffield, with an increase of 1.3 per cent.
LATEST DEVELOPMENTS:
Houses in Bournemouth have seen an annual decrease of 1.5 per cent
GETTY IMAGES
Britons buying in Glasgow will also see a house price increase of 1.3 per cent from last year.
Other areas have seen a negative annual house price change. Bournemouth is the city which has seen the biggest drop, with an average house price decrease of 1.5 per cent.
This means that Britons buying in the seaside resort town will get more bang for their buck than they would have this time last year.
Those deciding to buy in Aberdeen will also make a saving compared to last year, with an annual house price decrease of 1.3 per cent. Britons thinking of relocating to Portsmouth can expect an average decrease of 1.2 per cent.