As part of the Queen's Platinum Jubilee celebrations, the government announced that eight new cities are to be created to mark the special occasion.

With at least one in every UK nation, they are Dunfermline in Scotland, Milton Keynes in England, Wrexham in Wales and Bangor in Northern Ireland.

There's also a first Overseas Territory to get the honour, Stanley, in the Falklands, and a crown dependency - Douglas, in the Isle of Man.

Colchester and Doncaster complete the list getting the royal honour.

However, one estate agency says that each of the locations could see a £37,000 house price boost because of the city status – after prices rose by 12% for those towns that became cities for the Queen’s Diamond Jubilee in 2012.

Why were they created?

To be awarded city status, the civic honours contest saw applicants having to reveal what their royal and cultural heritage links are – and how city status would affect their communities and identity if they were granted it.

What are the benefits of having this title?

Some benefits of having the title of 'City' include increased tourism, improved infrastructure, and a lift to the local economy.

And that means that the local housing market should also see an improvement.

How have the housing markets performed between 2021 and 2022 in each one?

Milton Keynes:

Milton Keynes is in southern England, about 50 miles northwest of London. It was designated a new town in 1967 and has since grown to become one of the largest towns in the country, with a population of more than 200,000. The housing market in Milton Keynes has been very strong in recent years, with prices rising by an average of 11.7% between 2021 and 2022. The average price of a home in the town is now £301,469. One estate agent says prices could boom by another £36,875 this year.

Dunfermline:

Dunfermline is in Scotland, located about 20 miles north of Edinburgh. It has a population of around 48,000 and was made a royal burgh in 1150. The housing market in Dunfermline has been relatively strong, with prices rising by an average of 14% in 2021. The average price of a home in the town is now £193,905. The estate agency states that Dunfermline’s prices could rise by £19,534 this year.

Bangor:

Bangor is in Northern Ireland, located about 10 miles east of Belfast. It has a population of around 56,000. The housing market in Bangor has also been robust in recent years, with prices rising by 10% last year. The average price of a home in the city is now £189,609.

Wrexham:

Wrexham is in Wales, located about 20 miles east of Liverpool. It has a population of around 61,000 and was made a borough in 1257. The housing market in Wrexham has been solid in recent years, with prices rising by an average of 12.8.% between 2021 and 2022. The average price of a home in the town is now £230,000. Prices here could rise by £23,188, according to the estate agency.

Stanley:

Stanley is in the Falkland Islands, on the island of East Falkland. It has a population of around 2,000 and was made the capital in 1845. The housing market in Stanley has shown strong performance – mainly down to a lack of housing. Prices rose by an average of 3% between 2021 and 2022. The average price of a home is now £180,000.

Douglas:

Douglas is on the Isle of Man, located about 30 miles northwest of Liverpool. It has a population of around 27,000. The housing market in Douglas has been steady with prices rising by an average of 7% between 2021 and 2022. The average price of a home in the town is now £313,192 and could rise by £36,643 this year.

Colchester:

Colchester is in Essex, England, located about 50 miles northeast of London. It has a population of 104,000. The housing market in Colchester has been strong recently, with prices rising by an average of 12% between 2021 and 2022. The average price of a home in the town is now £308,447 and could rise by another £36,000.

Doncaster:

Doncaster is a town in South Yorkshire, England. It has a population of around 109,000. The housing market in Doncaster has also been performing well in recent years, with prices rising by an average of 14.2% between 2021 and 2022. The average price of a home in the city is now £201,824 with a predicted rise of £18,291.

What was the UK house price market between 2021 and 2022 like?

According to the Office for National Statistics (ONS), the UK’s average house prices grew by 10.9% in the year to February 2022. That's up from January's annual price rise of 10.2%.

The ONS says that the average house price in February was £277,000 - that's £27,000 higher than February 2021.

In England, the average price of a house rose to £296,000 (10.7%), while in Wales is £205,000 (14.2%).

For Scotland, prices are £181,000 (11.7%), and the average house price in Northern Ireland is £159,000 (7.9%).

However, the ONS says that London is the region that has the lowest annual growth rate with prices rising by 8.1%.

UK's housing market is continuing to perform well

The data from the Office for National Statistics show that the UK's housing market is continuing to perform well, with prices rising in most cities between February 2021 and 2022.

The strong performance of Milton Keynes, Dunfermline and Bangor is particularly noteworthy, as they were performing well without their new City status - and look set to cash in with rising prices as a result.

Indeed, the new status appears to be good news for all those looking to buy or sell a property in one of the UK's new cities.

If you are one of them, it's important to seek expert advice from a qualified professional. They will ensure that you get the best possible price for your property and help the process be smooth and successful.