Which cities will become the next UK property hotspots?.
Liverpool, Glasgow, Birmingham and Manchester are tipped for huge price increases.
Hometrack, a property research company, have released their findings after researching house price growth across the UK.
They found that London, Cambridge and Oxford showed the biggest gains over the decade studied, with house prices almost 60% higher than they were on the cusp of the credit crunch. This price growth was due to “the economic boost from low interest rates and inward investment into south-eastern England, which has translated into higher residential values,” Hometrack’s research director Richard Donnell claimed.
Hometrack believe, however, that prices will start rising faster in other cities soon. In particular, Liverpool, Glasgow, Birmingham and Manchester are set to experience huge growth in house prices. Momentum is more likely to rise in cities where house prices are closer to their 2007 levels and where economic factors such as low mortgage rates, low unemployment and rising wages set the conditions for stronger price rises.