Portsmouth: House price inflation stands at 5.5%
Regional cities continue to drive headline house price growth while in London there are signs that the downward pressure on prices is starting to ease on a seasonal increase in activity.
UK city house price inflation was 5.5% in the 12 months to March 2018, up from 3.7% a year earlier. The annual rate of growth ranges from 8.1% in Edinburgh to -6.6% in Aberdeen with Cambridge the only other city registering nominal price falls (-1.2%).
In Portsmouth house price inflation stood at 5.5%. In Bournemouth it stood at 4.6% and Southampton 4.4%. The highest rise in Thames Valley was in Oxford, at 3.9%.
The current average price of a house in Portsmouth is £235,000 compared with £418,400 in Oxford.
The UK Cities House Price Index is produced by Hometrack.
Founder and CEO of Emoov.co.uk, Russell Quirk, commented: "City living often comes at a premium and so an increase in the number of sales agreed across all UK cities is a strong indicator of the stabilising health of the market and a returning level of both buyer and seller interest."
