ZPG PLC - Average home in Britain now worth £290,725, up 1.29% since start of year
- This equates to a daily growth of £21 per day for the average property
- Britain's total housing stock now worth £7,805,159,117,194
- Huddersfield, Coventry and York are the locations with the biggest growth
- London, Greater Manchester and Edinburgh are most searched for locations
The average British home increased in value by £21.07 per day over the first half of 2016, according to property website Zoopla. Average property values now stand at £290,725, up 1.29% (£3,847) compared to January of this year.
Regionally, properties in the North West, Yorkshire and Humber and the East of England rose the most in value terms over the first six months of 2016, increasing by 3.24 per cent (£5,632) 2.63 per cent (£4,238) and 2.40 per cent (£7,706) respectively.
Meanwhile Scotland, South West England and London performed the worst in the first half of this year, with values in Scotland declining by 0.76 per cent (£1,368), dipping in South West England by 0.34 per cent (£934) and only increasing by 0.09 per cent (£601) in London.
Biggest winners and losers Huddersfield was the biggest winner in the first half of the year in terms of value rises, registering an average property value growth rate of 4.71 per cent (£7,530). The Yorkshire town was closely followed by Coventry which saw a 3.46 per cent increase (£6,122) on the average property and York where properties increased by 3.4 per cent (£9,006).
At the bottom of the pile, Aberdeen, Plymouth and Newcastle upon Tyne dropped the most in value, where the average property lost 2.6 per cent (£5,904), 1.84 per cent (£3,571) and 1.82 per cent (£3,623) respectively.
Top site searches Zoopla's data reveals the Capital is the most sought after location to buy or rent so far this year, with London receiving the most property searches, closely followed by Greater Manchester and West Yorkshire. Meanwhile the keyword search data found Brits are clearly looking for properties with plenty of external space. The most popular searches in the first half of the year were 'garden', 'garage' and 'detached' while 'acres' came in ninth place.
Lawrence Hall of Zoopla commented: 'While comparatively the British property market growth hasn't seen the same level of growth as there was in the first half of 2015, where it saw a 5.44 per cent increase, the first half of this year has seen steady growth albeit at a slower rate. Considering the rocky political and economic landscape we currently face, it's not surprising that this uncertainty has been reflected in a slowdown in growth in values in the run up to the EU vote. It's too soon to determine what the effect the vote to leave the EU will have on property values, but it is likely that transactions will have slowed a little in the run up to the vote.'
Regional value changes (high to low) so far in 2016
Region January value July value % change £ change North West England £173,860 £179,492 3.24% £5,632 Yorkshire & Humber £161,194 £165,432 2.63% £4,238 East of England £320,931 £328,637 2.40% £7,706 Wales £171,874 £175,118 1.89% £3,244 South East England £378,901 £384,594 1.50% £5,693 North East England £178,723 £180,667 1.09% £1,944 West Midlands £202,125 £203,850 0.85% £1,725 East Midlands £193,298 £194,340 0.54% £1,042 London £650,261 £650,862 0.09% £601 South West England £276,752 £275,818 -0.34% -£934 Scotland £179,796 £178,428 -0.76% -£1,368 Top 10 post towns for value increases so far in 2016
Town January value July value % change £ change Huddersfield £159,776 £167,306 4.71% £7,530 Coventry £176,740 £182,862 3.45% £6,122 York £264,610 £273,616 3.40% £9,006 Bristol £287,818 £296,119 2.88% £8,301 Ipswich £239,437 £246,268 2.85% £6,831 Northampton £224,148 £230,035 2.63% £5,887 Peterborough £200,377 £205,534 2.57% £5,157 Bolton £148,092 £151,894 2.57% £3,802 Bedford £2293,299 £300,421 2.43% £7,122 Brighton £360,203 £368,800 2.39% £8,597 Bottom 10 post towns for value increases so far in 2016 (/p>
Town January value July value % change £ change Aberdeen £227,317 £221,413 -2.60% -£5,904 Plymouth £193,866 £190,295 -1.84% -£3,571 Newcastle upon Tyne £198,973 £195,350 -1.82% -£3,623 Wolverhampton £181,485 £178,342 -1.73% -£3,143 Leicester £204,299 £200,949 -1.64% -£3,350 Stockport £233,181 £230,610 -1.11% -£2,571 Liverpool £157,630 £156,007 -1.03% -£1,623 Glasgow £170,460 £168,740 -1.01% -£1,720 Southampton £268,478 £265,919 -0.95% -£2,559 Walsall £166,200 £164,808 -0.84% -£1,392 Most searched for keywords on Zoopla so far in 2016
Ranking Keyword 1 Garden 2 Garage 3 Detached 4 Parking 5 Bungalow 6 Furnished 7 Annexe 8 Cottage 9 Acres 10 Conservatory Most searched for locations on Zoopla so far in 2016
Source: Zoopla, July 2016Ranking Keyword 1 London 2 Greater Manchester 3 West Yorkshire 4 Kent 5 Edinburgh 6 West Midlands 7 Lancashire 8 Glasgow 9 Birmingham 10 Nottingham - Ends -
For further information please contact Lawrence Hall on 020 7620 4618 / 07890 078 945 lawrence.hall@zoopla.co.uk.
Zoopla is the UK's most comprehensive property website, focused on empowering users with the resources they need to make better-informed property decisions. We help consumers both find their next home and research the market by combining hundreds of thousands of property listings with market data, local information and community tools.
At Zoopla we are fans of transparency and everything we do is aimed at making the market more efficient for both property consumers and advertisers alike. Zoopla has rapidly become the UK's leading online destination for property consumers to search for homes and do their market research and the favoured online marketing partner for UK estate agents, letting agents and property developers.
Launched in 2008, Zoopla has since been one of the fastest growing websites in the UK, now attracting over 40 million visits per month and we are proud to have collected numerous awards and accolades along the way, including being named one of the Top 10 UK Tech Companies (Guardian) and one of the Top 10 Most Innovative UK Companies (Smarta).
Zoopla is part of Zoopla Property Group Plc which was founded in 2007 and has a highly-experienced management team, led by Founder & CEO, Alex Chesterman.
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Zoopla Property Group plc published this content on 24 July 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 30 July 2016 05:18:06 UTC.
Original documenthttp://www.zoopla.co.uk/press/releases/average-british-home-values-rise-by-per-day-over-first-half-of/
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