House prices in Sheffield increased by four per cent last year, with the average home now costing £128,500.
Property analysts Hometrack found that house price growth in London last year slowed to the weakest pace seen in nearly four years, with property values in Liverpool, Birmingham and Manchester now rising more quickly than the capital.
Year-on-year house price growth in London was running at 6.4 per cent in January - the lowest level recorded since June 2013 - according to Hometrack.
The index, which monitors house prices across the UK's 20 biggest cities, found Bristol remains the city with the strongest house price growth, with an annual increase of 9.5 per cent in January.
Oxford has the next fastest growth, with a 9.2 per cent annual house price rise.
Manchester, where property values have increased by 8.3 per cent year-on-year, is in third place.
London was placed eighth, behind cities including Southampton and Bournemouth.
Sheffield was ranked 15th the list of 20.