Northern UK cities have dominated recent property price growth, according to analysis comparing Land Registry and Hometrack data, with Belfast emerging as the strongest performer across both datasets.
The town and city tracker data reveals a clear geographical divide, with northern markets clustering in the top half of both rankings, while southern and commuter-belt areas feature predominantly at the lower end, particularly in Land Registry figures.
Short-term recovery patterns
Analysis of city performance since 2022, when mortgage rates began rising sharply, shows that year-on-year trends reflect developments over the past three to four years. Land Registry data indicates Glasgow, Bradford, Belfast and Liverpool have recorded double-digit gains since 2022, representing transaction-backed price recovery rather than short-term market sentiment.
However, Hometrack data suggests momentum is slowing. Apart from Belfast, most cities showing strong Land Registry gains are now recording only 2-3% year-on-year growth, indicating these markets may have completed much of their recovery.
Long-term inflation comparison
When measured against general inflation since 2005, the analysis reveals that numerous UK cities have failed to outperform inflation over the nearly two-decade period. London and South East markets have delivered the strongest long-term performance, with Manchester identified as the standout regional city.
Several popular regional markets, including Birmingham, Liverpool and Newcastle, have not beaten inflation over the 20-year timeframe. Belfast’s recent strength masks weaker long-term inflation-adjusted performance.
Since the 2007/08 peak, Land Registry data shows London, Bristol and Manchester have delivered the strongest house price growth, while several regional markets have yet to fully recover from the financial crisis.
Data methodology
The analysis utilises Land Registry government data for long-term price tracking and Zoopla/Hometrack data to account for changes in property transaction mix during the pandemic, when the market shifted towards houses and away from flats. This shift caused some indices to overstate year-on-year price changes.
The findings highlight the divergence between short-term price momentum in northern cities and long-term wealth accumulation, which remains concentrated in London, the South East, and select regional centres.