House prices rocket £90,000 in a decade

House prices rocket £90,000 in a decade - see how your city has changed

House prices in Britain's biggest cities have risen by an average of £89,987 in the past decade - equivalent to £9,000 a year.

Despite election uncertainty, property prices have continued to to rocket, rising by an average of 54% since 2009.

This is a bigger increase than the average house price uplift across the whole of the UK over the past 10 years, at £62,218, Zoopla said.

On average, London house prices have surged by £204,400 over the past 10 years.

A typical house in the UK will now set you back £257,200, compared to £479,000 in the capital.

But city house price growth has varied widely over the past decade, reflecting the relative strength of local economies.

House prices in Belfast and Aberdeen are lower compared with 10 years ago, the index found.

Zoopla said Aberdeen was affected by the oil price crash post-2015, and Belfast, having registered six years of house price falls between 2007 and 2013, has been slower than other major cities to see a sustained recovery in house price growth.

Looking ahead, Zoopla expects city house prices to increase by 3% over 2020 as a level of pent-up demand returns to the market following the General Election result.

Richard Donnell, research and insight director at Zoopla, said: "The election result provides an element of certainty for households looking ahead to 2020, but the result changes very little in terms of housing market fundamentals.

"While we expect some pent-up demand to return to the market in (the first quarter of) 2020, the affordability of housing across the country will dictate the level to which prices will increase in 2020.

"Lower mortgage rates have already been reflected in higher house prices, which means house prices are set to rise at a lower rate in future - more in line with average earnings.

"We expect UK city house prices to increase by 3% over 2020."