August 31, 2011 Leave a comment
A new report from Primelocation has stated that local UK city prime homes peform better than London, in cities such as Bristol, Sheffield and Cardiff have been peforming better than the UK capital London itself.
According to new figures cities such as Manchester have witnesed a price increase of 7,9% in the first six months of the year. Likewise Sheffield prime property prices have increased by 10,6% and Cardiff 8,1% increase. Overall the prime property prices have increased by a total of 3,4% in the first six months oft he 2011 financial year.
London being a traditional hub of prime property has proven that investors are looking outside oft he capital to cities which have more potential to expand and grow. The only area that recorded a lower growth in the Prime property market segment was Merseyside with prices falling at an average of 0,8%. Consiquently the average Prime property asking price has in July increased from £467,310 to £469,702. Read more of this post