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House prices rise 5% 'across UK's 20 largest cities'

The cost of a house has risen by at least 5% in 20 of Britain's major cities, with experts pointing to the rise as a sign of the economic finally trickling out of the south east.

Property analyst Hometrack revealed there was still a wide discrepancy between the north and the south in terms of house prices, with the cost of a home in London rising by 17.3% or by 5.5% in Liverpool and Glasgow.

However, this was the first time in a decade that house prices have risen year-on-year by more than 5% in all 20 cities.

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House prices rise 5% 'across UK's 20 largest cities'

The cost of a house has risen by at least 5% in 20 of Britain's major cities, with experts pointing to growth as a sign of the economic recovery finally trickling out of the London.

This is the quickest growth in house prices nationwide since 2004. Credit: PA

Property analyst Hometrack revealed there was still a wide discrepancy between the north and the south in terms of house prices, with the cost of a home in London rising by 17.3% or by 5.5% in Liverpool and Glasgow.

However, this was the first time in a decade that house prices have risen year-on-year by more than 5% in all 20 cities.

Bristol emerged as the second priciest place to buy a home in the UK, with the cost of a house rising by 13.2%.

Despite the dramatic growth, house price rises are starting to cool again, Hometrack found.

Growth had slowed in April after banks applied tough "stress tests" about the spending habits of those they lent to, and growth slowed sharply in cities like Oxford and Cambridge over the last few months.

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