Edinburgh property prices grow faster than rest of UK

House prices in Edinburgh grew at a faster rate than any other British city in 2019, according to a new report by Zoopla.

Edinburgh property prices grow faster than rest of UK

The report investigated the 20 cities with the fastest house price growth last year.

Glasgow also had high levels of growth last year, with prices expected to rise again in 2020. Growth is expected due to a Brexit bounce based on an improving economy.



However, the average house price in Aberdeen is still falling, although the demand for homes in the city is on the rise, according to the report.

House prices in Aberdeen are still suffering from the fall in oil prices which has plagued the city in the last five years.

Nottingham is expected to see the strongest house price growth in 2020, with Edinburgh, Glasgow and Manchester following closely behind.

House price growth was 6.1% in Edinburgh in 2019 with the average price of a home in the Scottish capital standing at £242,000. In comparison, Nottingham’s house price growth was 5.2%. In Glasgow, prices increased by over 3% after many years of near static prices. Dundee fell outside the top 20 biggest cities category. 

The Zoopla report looked at a range of factors, including affordability, how much sellers needed to reduce their asking price to get a sale and how long properties were on the market for, in order to predict which cities could have the strongest prospects for house price growth in the year ahead.

Richard Donnell, research and insight director at Zoopla, said: “The best prospects for house price growth in 2020 are in Nottingham, Edinburgh, Glasgow and Manchester.

“In contrast, we expect cities in southern England to register below average price growth as affordability levels realign to what buyers can afford. Overall, we are expecting house prices to grow on average by 3 per cent across all UK cities in 2020.”

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