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|Homebuyers now wait up to 28 years between house moves|
|Friday, 22 May 2015|
The UK housing market shrugged off the uncertainty around the General Election and a sizable slowdown in the monthly rate of house price growth over the second half of 2014 to post an average increase of 1.4% over the three months to April. This is higher than the same period in 2014 (1.2%) and the biggest quarterly average rate of growth for a decade according to the Hometrack UK Cities House Price Index.
House price growth across the Hometrack UK Cities House Price Index is running at an average of 9.0% and continues to exceed the overall UK rate of growth of 6.8% year on year. At a city level the annual rate of growth ranges from 3.5% in Liverpool to 11.0% in London. This is the smallest spread in city level house prices since 1996, as the rate of growth in high value markets such as London and Cambridge moderates whilst house prices in regional cities continue to recover off a low base. However, 11 of the 20 cities have house prices that are still below their 2007 peak.
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