16:55 03 January 2014
Nationwide figures confirmed that Manchester outperformed every other area of the country in 2013 when it comes to house price growth.
According to figures released by Nationwide Building Society, the property values increased up to 21per cent over the year. London is in second place while Brighton is in third. According to the bank society, prices in the capital increased by 14.9per cent while Brighton saw a growth of 12per cent.
However, prices in north of England increased just 1.9per cent while Scotland saw a 3.7per cent increase. Nationwide listed Edinburgh and Glasgow as the two of the worst performing cities in 2013 with an annual increase of just 1per cent and 2per cent, respectively.
Meanwhile, the price of an average UK home has increased by 8.4per cent over the year and ended 2013 at £175,826.
Howard Archer from IHS Global Insight said the figures "can only fuel concern that a new housing bubble could really develop in 2014, especially as the strength in house prices is becoming widespread."
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