Bristol top for house price growth
Strong and sustained house price growth has made Bristol the top
performing city for property, it has been revealed.
According to data from email4property annual house price growth hit
9.2 per cent during 2007.
The rise meant the average property price in the city rose from
£186,944 in 2006 to £204,374.
Property markets in Manchester also performed well, with prices
rising 6.3 per cent to take the average home value from
£173,544 to £184,494.
Meanwhile, growth of four per cent was noted in Liverpool, with the
average home's price now standing at £184,473.
However, although the figures would appear to defy the effects a
general economic downturn, David Bexton, managing director of
email4property, anticipates that there will still be a continued
tightening of lending criteria next year.
He said: "While seasoned investors will end the year relatively
unscathed, new investors may find mortgages in short supply and
larger deposits required.
"If uncertainty brings greater research or more careful borrowing,
before buying a property, this can only benefit the housing market
over the next few years."