Liverpool recorded the fastest increase in the quarter where prices rose off a low base.
City house prices increased by 4.2% in the first quarter of 2016 – the highest increase in 12 years, the Hometrack UK Cities House Price Index has revealed.
Liverpool recorded the fastest increase in the quarter where prices rose off a low base.
Adrian Whittaker, sales director at New Street Mortgages, said: “Over the past month, the market has been inundated with landlords looking to secure their properties prior to the stamp duty rise and this will likely have played a role in increasing house prices.
“However, house prices have seen a consistent and strong increase for many months now, and without more homes on the market prices will continue to rise with or without the impact of the buy-to-let rush.
“Buyers are truly facing a race for property, and in this fast-paced environment brokers are looking for lenders who can get their client a mortgage quickly, as this can make all the difference in beating the competition.”
Hometrack expected house price growth to moderate in the second quarter.
