29 November 2017
Postcodes in regional U.K. cities like Birmingham, Edinburgh and Glasgow have logged the biggest price increases in the past year, leaving London trailing behind, according to Barclays Postcode Property Index released Tuesday.
The index shows that across the U.K., individual postcodes are bucking the national housing market trend, which in September 2017 recorded just a 0.4% increase, according to the index.
Birmingham’s B16 postcode ranked No. 1 as the average house price rose in July 2017 to £171,498 (US$226,791) from last year’s £147,121 (US$194,582), a 17% price bump, according to the index, which identified the most thriving postcodes in the U.K.’s top 20 cities. The postcode covers Ladywood, an inner-city district next to central Birmingham. The city as a whole saw average price growth of 5%.
Edinburgh’s EH2 postcode—an area of the capital to the east of the city center that holds the Scottish Parliament Building and Palace of Holyroodhouse, the official residence of Queen Elizabeth in Scotland—saw price growth of 14% as house prices jumped to £372,592 (US$492,721) from £325,595 (US$430,571).