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Bristol tops house price increase

Bristol has topped the growth chats as it sees the biggest rise in house prices in 2007 according to a Bristol mortgage broker.

The websites research found prices had risen by almost 10% compared with the end of 2006. Family sized homes are in short supply especially in the area of Clifton, Redland and the popular area of St Andrews.

The evidence shows that it is not all good news for homeowners. The demand for flats is weakening as oversupply in some areas is becoming a problem.

Other areas that saw rises were

  • Manchester 6.3%
  • Cardiff 4.1%
  • Leeds 3.5%

The outlook for 2008 is still uncertain but most commentators on the housing market believe if we see a interest rate cut in early 2008 the market will slow and growth will slow to around 1%

31 December 07

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