House Price Growth:
Home prices have continued to power ahead despite the economic uncertainty, adding on average around £57 per day to their value during 2016, that’s according to property website Zoopla.
Zoopla said the average home increased in value by £19,348 onto its value, a figure approaching the average wage, from January to early December. This would equate to the increase of £56.57 per day.
The values in England saw the biggest increase, rising by 7.59% to an average of £325,575 since January 2016. Scottish house values increased by around 5.56% to an average of £185,355. Values in Wales saw a 3.8% increase over the year, reaching £179,074 on average.
Taking Britain as a whole, the average house price now stands at over £300k, or around £308,790 according to Zoopla’s estimate.
Diss in Norfolk was said to have had the biggest jump in values over the year, increasing by 16.2% and an average home value in Diss at £305,896. Leatherhead in Surrey was next biggest in growth, according to Zoopla’s statistics, with property values rising by 14.7% to reach £833,631.
Aberdeen, hit by the oil industry slump, had worst performing house prices across Britain over the year, with values falling by 2.83% to £217,234. In Wales, Llandudno saw the next biggest fall in values, with a 2.38% decrease, taking the average property price there to £195,623.
Analysis of Zoopla’s search figures show the words “garden”, “garage” and “parking” as the most popular used words during buyer’s searches.
Lawrence Hall for Zoopla, says:
“2016 has certainly been a historic year, with the events of the past six months giving rise to potential political uncertainty. However, the property market – it seems – remains resilient and property values across Britain have continued to grow.”
The tables below show how the regions faired over the year 2016 according to Zoopla:
- East Anglia, £358,401, 11.56%
- West Midlands, £220,993, 8.74%
- South East England, £411,736, 8.44%
- South West England, £297,054, 7.88%
- North West England, £190,005, 7.57%
- East Midlands, £209,183, 7.42%
- Yorkshire and the Humber, £173,362, 5.58%
- London, £680,593, 5.12%
- North East England, £187,683, 2.41%
Top 10 areas with the strongest since January 2016:
- Diss, Norfolk, £305,896, 16.20%
- Leatherhead, Surrey, £833,631, 14.70%
- Southall, London, £382,153, 14.55%
- Crook, County Durham, £121,949, 14.45%
- Seaford, East Sussex, £351,888, 14.29%
- Woodford Green, Essex, £616,925, 14.28%
- Chippenham, Wiltshire, £338,102, 14.14%
- Northwood, London, £915,207, 14.13%
- Shoreham-by-Sea, West Sussex, £387,248, 13.80%
- Upminster, Essex, £552,561, 13.77%
Areas with the weakest price growth:
- Aberdeen, Aberdeenshire £217,234, minus-2.83%
- Llandudno, Conwy, £195,623, minus-2.38%
- Ashington, Northumberland, £108,611, minus-2.31%
- Bangor, Gwynedd, £165,673, minus-1.03%
- Newquay, Cornwall, £264,892, minus-0.81%
- West Drayton, London, £360,604, minus-0.43%
- Ossett, West Yorkshire, £167,224, 0.02%
- Tredegar, Blaenau Gwent, £93,458, 0.25%
- Pontypridd, £144,413, 0.51%