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House value increases continue to outstrip other major cities

Published: Friday, 31st January 2020

House values in Stoke-on-Trent are continuing to rise at a faster rate than other major cities across the country.

The latest UK Cities House Price Index reveals that year-on-year house value growth is 4.5 per cent – putting Stoke-on-Trent ninth out of 65 cities in the UK. The figures, based on a snapshot of house prices in December 2019, show the average cost of a house in the city is £120,700, which is also three per cent higher than 12 months ago and nine per cent higher than in 2007.

It means growth in Stoke-on-Trent is faster than cities including Manchester, Liverpool, Birmingham, Sheffield and London.

Councillor Joanne Powell-Beckett, cabinet member for housing, said: “These figures yet again show the growth and confidence in our city as the place to live and invest in. It follows news last week that employment growth in Stoke-on-Trent is forecast to be the fastest in the UK by the end of 2020, with 8,000 jobs created in the past five years.

“It’s fantastic that Stoke-on-Trent is continuing to make excellent progress in this way. Together with the city’s superb connectivity, it means Stoke-on-Trent is becoming a more attractive place to live.

“We’re working hard to ensure the quality of housing in the city is good and that people have a range of housing options to best meet their needs. Good housing leads to improved life chances, health benefits and the ability to make a positive contribution to the economy.

“Earlier this month we announced ambitious multi-million pound proposals for the biggest mixed-tenure house building programme in a generation. The proposals include building 450 private rental and open sale homes over three years through our housing company Fortior Homes, building 1,000 new council homes over the next five years, and investing £30m over six years into our existing housing stock.”

Last year, the city council was named council of the year at the UK Housing Awards for its strategic approach to housing in Stoke-on-Trent.

The council’s house building proposals will be put before a full council meeting on 27 February for final approval.

For all media enquiries please contact the Communications Department at Stoke-on-Trent City Council on 01782 232671. (journalists only)