Four UK cities in top ten European property performers

Four UK cities rank among the top European performers in Knight Frank’s latest Global Residential Cities Index.

The data, representing the second quarter of 2016, places Bristol, London, Nottingham and Birmingham in the top ten European locations for house price growth.

Bristol recorded annual growth between June 2015 and June 2016 of 15.3%, followed by 14.4% in London, 10.7% in Nottingham and 9.6% in Birmingham.

In Europe, Budapest leads the rankings with prices accelerating 24% on an annual basis.

Globally, Chinese cities lead the way with Shenzhen recording growth of 47.4% followed by 33.8% in Shanghai.

Overall global growth in the cities index was at 5.5%, the strongest annual rate for two years.

Kate Everett-Allen, partner for international residential research at Knight Frank, said: “Of the 150 cities tracked, 114 recorded positive annual price growth and 31 cities saw price growth exceed double digits.

“Six Chinese cities (Shenzhen, Shanghai, Nanjing, Beijing, Guangzhou and Hangzhou) all sit within the top ten rankings for annual price growth. Their ascension has been rapid.

“According to data from China’s National Bureau of Statistics the average annual rate of growth for the top ten performing Chinese cities equates to 22% in the year to June, a year earlier the comparable figure was -1.1% for the same ten cities.”

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