If you’re looking to buy in a place where your property will quickly grow in value, look north. New research from online listings agency Zoopla has revealed that Sheffield’s house price growth is outstripping every other big city in the UK, including London.
The value of residential properties in the South Yorkshire city have risen to a combined worth of £55,698,871,773 – or more than £55 billion if all those commas are confusing. That’s a rise of 5.63 percent and puts Sheffield 10th on the list of UK total property values.
London saw the slowest growth in property values of the top 10 UK cities at just 1.54 percent, but the capital’s residential property worth is still miles ahead of everywhere else at a mind-blowing £1.5 trillion.
In fact, London’s SW1 district, which includes Westminster and Belgravia, were not only the most valuable neighbourhoods in the capital, but their combined £54bn worth is almost as much as all of Sheffield.
Winning in growth rate stakes
Bristol is the second most valuable city with a value of more than £115bn in January 2018, up 3.8 percent on the year. Bristol is also the only city, next to London, to surpass the £100bn mark. Meanwhile, Glasgow was second only to Sheffield in percentage growth value, its 5.38 percent rise putting it in third place with residential property worth more than £90bn.
Lawrence Hall of Zoopla said: “The data does show that, in comparison to cities further north and across the Scottish border, the rate of growth in London has slowed. The capital may be worth almost 10 times more than Sheffield, but Britain’s Steel City wins in the growth rate stakes.”
The top cities ranked by property value are:
- London, £1,506,705,189,900, up 1.54 percent
- Bristol, £115,207,474,096, up 3.80 percent
- Glasgow, £90,750,982,705, up 5.38 percent
- Birmingham, £81,663,640,814, up 4.08 percent
- Manchester, £80,478,598,208, up 4.49 percent
- Edinburgh, £68,271,091,728, up 4.04 percent
- Nottingham, £66,136,609,714, up 3.69 percent
- Reading, £60,555,052,948, 2.37 percent
- Leeds, £59,053,360,365, up 4.20 percent
- Sheffield, £55,698,871,773, up 5.63 percent