The North of England is leading the way when it comes to house price growth, offering tempting opportunities for investors, according to new figures.

Forging the way is the steel city of Sheffield (pictured above), which has seen prices rise from an average of £192,542 in December 2021 to £216,934 today.

The increase represents a growth rate of 12.7%, well above the UK average of 7% over the same period.

Second-placed Bradford has seen price growth of 10.3%, rising from £158,562 to £174,930, according to the research from easyMoney, the peer-to-peer real estate investment platform.

Meanwhile neighbouring Leeds ranks third for price performance with growth of 10% since December 2021, bringing the current average house price to £231,743.

Another hotspot putting a different spin on the Northern Powerhouse is Newcastle at 9.9%.

London and Manchester struggling

Other UK cities to experience above-average price growth are Leicester (9.5%), Bristol (9.4%), Edinburgh (9.1%), Cardiff (8.8%), Glasgow (8.7%), Nottingham (8.5%) and Liverpool (7.7%).

Not all cities fared so well, however, with the major investment hubs of London and Manchester witnessing growth of just 2.3% – nearly 5% below the UK average.

The trendy south-coast city of Brighton has only seen growth of 4.5%, while prices in the nation’s second biggest city, Birmingham, have risen by 5.4%.

Jason Ferrando, CEO of easyMoney said: “As is always the case with the British housing market, even when the national picture shows muted growth, there are always corners and pockets where prices are rising at pace. In the past few years, the best of these pockets appear to have been Yorkshire cities.

“The best, most astute property investors are wise to the fact that when price growth stutters in one city, it will be booming in another, so a smart investor who normally invests in Manchester will have shifted their attention to Sheffield, for example, for the past couple of years.”