A website that covers the home mortgage market in England reports that Manchester and Birmingham prices have gone up by 8.8 and 8.0 per cent over the past year. The average cost of home in both cities is about 151,000 to 154,000 pounds. A director for the company that compiled these statistics comments that sales have not been affected by the uncertainty over Brexit. He notes that cities such as London and Cambridge have seen smaller increases. He is hopeful that prices will continue to rise.
Key Takeaways:
- Costs ascended by 8.8% and 8.0% in the year to Manchester and Birmingham individually after solid quarterly ascents of 3.4% and 3.5%.
- Contrasted with the level of instability over Brexit, it is debateable whether the race will truly have a material effect to purchasers’ choice in the following two months.
- In our view the present market patterns seem well set for whatever remains of 2017 where better than expected development in territorial urban areas balances feeble.
“Cities that have been driving house price growth over the last 2-3 years, such as London and Cambridge, are now seeing a significant slowdown while large regional cities continue to register robust and sustained levels of house price growth.”
Read more: http://www.mortgageintroducer.com/manchester-birmingham-experience-house-price-surge/