House prices in Sheffield rise by £6,500 over one year

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House prices in Sheffield went up by an average of £6,500 last year, according to a property analyst.

Hometrack found that the average house prize in Sheffield is £124,900 and that values went up by 5.4 per cent last year.

In London house prices leapt by nearly £57,900 over the year - 16.4 per cent, with the average house now costing £403,200.

Property values in Edinburgh have seen the biggest upswing over the last three months out of the 20 cities monitored by Hometrack.

Liverpool has recorded the smallest increase in property values over the last year, with a rise of just over £3,000, taking the average house price there to £107,000.

Richard Donnell, from Hometrack, said he expects property values to increase at a rate more in line with earnings growth next year.