This exceeded the increase of 347% for the UK as a whole over the period.
Truro, Westminster and Edinburgh were the cities that recorded the biggest price rises since 1986 at 550%, 522% and 509% respectively.
Cities have also performed well in relative terms in the four years since the housing market peaked in 2007.
Three-quarters of cities recorded a better house price performance than their region between 2007 and 2011 with house prices in cities falling by an average of 18% since 2007 compared with the UK average decline of 24%.
Martin Ellis, housing economist at Halifax, said: “City house prices are generally supported by demand from those looking to gain from the economic and lifestyle benefits often associated with residing in major urban areas.”
Eleven towns have become cities in the past 25 years. On average these new cities saw house prices increase by an average of 379% since 1986.
This is slightly below the average rise for places that have been cities throughout the past 25 years but is above the 347% increase for the UK as a whole.
Ellis said: “Some have gone on to outperform their region after gaining city status whereas they had underperformed previously. This however has not always been the case.
“There are no guarantees for homeowners in whichever town is awarded city status this year that they will see a benefit in the form of improved house price performance.”
