City sta­tus can boost prices

Yorkshire Post - Property - - FRONT PAGE -

WITH 26 towns ap­ply­ing for city sta­tus as part of this year’s Di­a­mond Ju­bilee cel­e­bra­tions, Hal­i­fax has looked back at how house prices in cities have per­formed over the past 25 years.

They have risen by an av­er­age of 382 per cent from £35,209 in 1986 to £169,707 in 2011. This ex­ceeds the av­er­age UK in­crease.

Truro (550 per cent), West­min­ster (522 per cent) and Ed­in­burgh (509 per cent) are the three cities that have recorded the big­gest price rises since 1986. York is tenth in the top ten with a 424 per cent in­crease.

Re­search also shows that 70 per cent of cities out­per­formed their re­gion in terms of house price rises. Both Goole and Don­caster are hop­ing to be granted city sta­tus this year.

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