London house prices grew two per cent in the year to November, making it the city with the fourth-lowest house price growth in the UK, according to a new ranking.
Hometrack's UK Cities House Price Index suggested growth is recovering in the nation's 20 largest cities: property prices grew 6.3 per cent in November, up from 4.9 per cent growth a year ago.
That is at odds with predictions by property services giant Savills, which has suggested house price growth across the UK will be a more modest two per cent this year.
Scottish cities bookended the ranking, with Glasgow and Edinburgh showing the largest annual growth, at 7.9 per cent and 7.6 per cent respectively, while Aberdeen came at the bottom, with house prices falling 3.7 per cent.
Leicester was the fastest-growing English city, with a 7.5 per cent annual house price rise. That was followed by Birmingham, Manchester and Nottingham.
Things weren't looking good for the capital, though: although house price growth was 2.7 per cent in the year to November, Hometrack said it expected London house price inflation to end next year at around one per cent.
|City||Average price||Average growth|
|20 city index||£255,100||6.3%|
“As we move into 2018 increases in regional city house prices is likely to offset very low nominal growth in Londonm" said Richard Donnell, research and insight director at Hometrack.
"There is 20-25 per cent of additional upside in house prices in regional cities with a simple adjustment on affordability metrics.
"Add to this the impact of lower mortgage rates and the clouds of uncertainty around Brexit seeming set to lift in 2018 and we expect regional cities to continue above average house price growth next year and overall city house price growth to hit five per cent.”