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Southampton and Portsmouth Rank Among Zoopla’s Top 10 Most Expensive Places to Buy a House

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Both Southampton and Portsmouth have made Zoopla’s top 10 list of the most expensive cities to buy a house in the UK, with suggestions that the two Hampshire cities are starting to catch up with London in terms of property prices.

Portsmouth ranks 6th, with an average house price of £282,900, while Southampton follows at 8th with an average of £260,500.

According to Zoopla’s research, the most expensive properties outside of London are found in Cambridge, where the average property costs £465,700. In comparison, the average house price in London has reached £524,400, but several UK cities are not far behind.

Oxford is now the third most desirable city in Britain, with average house prices at £450,000. Meanwhile, Glasgow offers the best value, with homes averaging £140,200.

Richard Donnell, executive director at Zoopla, commented: “The dynamics that have shaped the housing market over the past five years are shifting.” He added that more affordable urban centres are expected to perform better in 2023, while London’s inner market may take another year to recover.

However, estate agents Savills predict house prices could drop by 10% next year, with Portsmouth and Southampton homeowners potentially facing larger declines. Experts suggest that mainstream London and the South East of England are expected to experience the steepest price falls in the short term, as well as the weakest growth over the next five years.

Despite a 13.6% rise in property prices over the past year, as reported by the Office for National Statistics, the UK housing market faces potential declines amid uncertain economic conditions.




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