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."