House prices in Sheffield are growing faster than anywhere else in the country as the most valuable location in the city is revealed.
New research from Zoopla has revealed that the total value of Sheffield's housing has increased by 5.63 per cent over the past 12 months.
This is the fastest growing rate of the top 10 cities in the UK with London the slowest rate of growth at 1.54 per cent.
Zoopla also revealed that the value of London's homes has now surpassed the £1.5 trillion mark and is more than twice as valuable as the next nine largest cities in Britain.
The total value of Sheffield's home has been estimated as £55.69 billion which is as much as the most valuable postcode in London.
The SW1 postcode has been valued at 54.56 billion with S10 the most valuable place to live in Sheffield with the total value of homes standing at £5.68 million - up by £2.97 billion year-on-year
Lawrence Hall, spokesperson for Zoopla comments: “It comes as no surprise that London is significantly more valuable as a residential property market than any other British city.
"However, the data does show that, in comparison to cities further north and across the Scottish border, the rate of growth in London has slowed.
"The capital may be worth almost 10 times more than Sheffield, but Britain’s Steel City wins in the growth rate stakes.”
Outside of London,Bristol tops the list with a total value of £115.21 billion. It is the only other British city to surpass the £100 billion mark.
Glasgow follows in third place with a property market value of £90.75 billion. The Scottish city has witnessed one of the largest growth rates of all cities in the past year – up 5.38 per cent– and is significantly above the total value of the Scottish capital, Edinburgh, which placed sixth (£68.27 billion).
Often referred to as England’s second city, Birmingham takes fourth place in Zoopla’s rankings, with a total property market value of £81.67 billion.
It narrowly beats Manchester, which takes fifth place (£80.48 billion).