Oxford house prices have grown at a faster rate than any other UK city on a quarterly basis, Hometrack’s UK Cities House Price Index has revealed.
Oxford’s prices rose by 4.1% between November and January, while annually they are the second highest riser at 9.2% (below Bristol at 9.5%).
Other cities where prices rose significantly in the three months to January were Liverpool (2.9%), Aberdeen (2.8%) and Leicester (2.5%), though they fell in Edinburgh (-1.3%), Belfast (-0.2%) and Sheffield (-0.1%).
Richard Donnell, insight director at Hometrack, said: The question is how much further house prices in regional cities could have to run were house prices to fully ‘price in’ low mortgage rates supported by rising incomes and employment.
“In our view there is material upside for house prices in the coming years in many cities where the recovery since 2009 has been limited.
“Typically those where investment in employment, infrastructure and regeneration will help stimulate the local economy.
“The timing and scale of future house price growth will, of course, depend upon the outlook for jobs, incomes and mortgage rates.”