We discuss below UK metropolitan residential markets with fastest rising house prices in August 2009, based on the latest house price data published by the UK Land Registry.
The top three UK metropolitan residential markets that registered the largest monthly house price increases in August 2009 were Bury, Sefton and Solihull, where average house prices increased by 1.8%, 1.5% and 1.1%, respectively.
Sunderland and Wolverhampton, with monthly house price gains of 1.1% and 0.9%, respectively, complete the list of top five UK metropolitan residential markets with fastest rising home prices in August 2009.
It should be noted though that from these top five metropolitan housing markets only Solihull and Sunderland had also registered monthly house price increases of 1.6% and 1.8%, respectively, in July 2009, while the remaining three had posted price declines.
In the context of looking at UK locations with fastest rising house prices of special interest are in our opinion metropolitan areas that have posted monthly house price gains of 0.4% or more in both August and July 2009.
Based on the Land Registry data we were able to identify seven such UK residential markets. The graph below portrays these areas and the respective monthly house price increases registered in August and July 2009.
The five worst performing UK metropolitan markets in August 2009 in terms of house price changes were Rochdale, Stockport, Gateshead, Oldham and Knowsley, where average house prices declined by -3.4%, -2.7%, -2.6%, -2.4% and -1.9%, respectively.
UK Metropolitan Areas with House Price Gains in Both August and July 2009
Note: Ranked on the basis of August 2009 monthly change; metropolitan areas with monthly change of less than 0.4% were excluded.
Sources: UK Land Registry;www.Property-Investing.org
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