HOUSE price growth across UK cities has hit a two-year high of 3.9 per cent according to online property company Zoopla.

The increase in house price inflation follows flat to falling house prices in the latter parts of 2018 and has been bolstered by a surge in buyer demand, with sales transactions in December 2019 were up 11 per cent compared to December 2018.

Buyer demand in the first weeks of 2020 was 26 per cent higher than the same four-week period in 2019 and 2018.

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In Oxford the average house price now stands at £413,600, down 0.1 per cent on the previous year.

Oxford Mail:

Richard Donnell, Research and Insight Director at Zoopla, said: “While the first few weeks of the year always see a return of home buyers to the housing market, demand for housing at the start of 2020 is 26 per cent higher than over the last two years.

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"This is partly due to fading political uncertainty; households holding off moving are now starting to return to the market and this momentum has been supported by low mortgage rates.

"We are expecting house prices to grow on average by three per cent across all UK cities in 2020.”

Zoopla’s UK house price index features 20 cities.