There is still a strong desire to live in cities in the UK as buyer demand shows little sign of abating in the centres of cities up and down the country.
This was the finding of the latest figures released by Hometrack, which shows Britain’s house price inflation is registering at +1.7%.
Edinburgh is witnessing the strongest house price growth at +5.1%, followed by Liverpool at +4.9% and Cardiff at +4.9%.
In the south of England, Bristol has the highest annual growth rate in house prices, at +2.0%. In London, whilst house prices are falling annually, quarterly growth has improved.
The desire to live in Britain’s cities has been pinned on the recent redevelopment of city centres like Manchester, Liverpool and Birmingham.
Once dilapidated buildings and derelict land with a reputation for crime, are being turned into stylish apartments, next door to trendy cafes and shops, becoming desirable places to live.
Figures show that since the start of the 21st century, the population in many of Britain’s city and town centres has doubled in size.
Much of the growth of city centre living is due to young people moving to urban areas for jobs or to go to university. During the first decade of the 21st century, the number of 20 to 29-year-old living in the centre of large cities, with a population of more than 550,000, tripled.
With demand to live in a city centre in Britain remaining high, investing in property to let out can be a lucrative investment.
If you are looking for property for sale across Britain, buying at auction can be a quick, easy and cost-effective way to purchase the right property for your purposes. Take a look at the property we have listed for our next property auction taking place in London.