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UK Cities Equal London’s Market Share

After an increase of 1.54% in the last 12 months, The London housing market is now worth more than £1.5tn.

This means the market is more than twice as valuable as the combined property assets in the next nine largest cities and towns in the UK, which are Bristol, Glasgow, Birmingham, Manchester, Edinburgh, Nottingham, Reading, Leeds and Sheffield (in order).

According to Zoopla – Bristol ranks as the second most valuable property market as it surpasses the £100bn mark with a total value of £115bn. The property portal found these figures by looking at the value of all residential property in Britain’s Top 10 largest cities.

Following in third place, Glasgow is reported to have a property market value of £90.75bn beating the total value of Scotland’s capital Edinburgh which has a total house market value of £68.27bn.

The property portal, Zoopla, had discovered that each of the city’s property wealth was significantly contributed by highly affluent neighbourhoods. For example – The London housing market within SW1 alone were found to have a total value of £54.57bn, coming very close to the total property wealth of northern city, Sheffield (£55.67bn).

The property portal, Zoopla, had discovered that each of the city’s property wealth was significantly contributed by highly affluent neighbourhoods. For example – The London housing market within SW1 alone were found to have a total value of £54.57bn, coming very close to the total property wealth of northern city, Sheffield (£55.67bn).

Lawrence Hall from Zoopla had spoken out and said: “It comes as no surprise that London is significantly more valuable as a residential property market than any other British city. However, the data does show that, in comparison to cities further north and across the Scottish border, the rate of growth in London has slowed. The capital may be worth almost 10 times more than Sheffield, but Britain’s Steel City wins in the growth rate stakes.”

Hall’s statement is supported by HM Land Registry and the Office for National Statistics data findings which concluded that the London market prices had risen by £4,000 in December compared to the drop of £6,000 in November

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