House price growth continues to move even further away from the south as Scotland now dominates the top and bottom of the latest Hometrack UK Cities House Price Index, with Glasgow and Edinburgh now the fastest growing parts of the UK, while Aberdeen continues to register the steepest falls.

Glasgow registered annual house price growth of 7.9% in November to £122,800, while Edinburgh was up 7.6% to £220,200.

However, Aberdeen propped up the rest of the UK at the bottom of the table of UK cities, with growth down 3.7% annually to £169,800.

The property analyst found the other top performing cities were situated in areas where prices were still at or below their 2007 levels, including Leicester, where prices were up 7.5% annually, Birmingham at 7.3%, Manchester with 6.6% and Nottingham on 6.4% growth.

Overall, house prices among the top 20 UK cities was up 6.3% to £255,100, an improvement on 4.9% recorded a year ago.

Richard Donnell, research and insight director at Hometrack, predicted prices next year could be up just 5% as there was still room for growth in cities still below their 2007 peak.

He said: “Over the past 12 months there has been a dramatic south to north shift in the momentum of house price growth which has culminated in Glasgow registering the fastest rate of house price inflation in the UK.

“In Glasgow, Edinburgh and many other large regional cities, affordability is less of a barrier than in London and the south-east, particularly for first-time buyers, and with mortgage rates remaining low this is helping to stimulate demand and increase activity in these markets.

“As we move into 2018, increases in regional city house prices is likely to offset very low nominal growth in London.

“There is 20-25% of additional upside in house prices in regional cities with a simple adjustment on affordability metrics.

“Add to this the impact of lower mortgage rates and the clouds of uncertainty around Brexit seeming set to lift in 2018, and we expect regional cities to continue above average house price growth next year and overall city house price growth to hit 5%.”

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