Zoopla values the UK housing market

(Last Updated On: December 21, 2016)

The property listings website – Zoopla – says it has come up with the total value of the UK’s housing market – totaling at an incredible £8.17tb.

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Despite all the bad news surrounding the housing market this year, this number is 7.35% higher compared to last year, which reflects growth in house prices during 2016.

Lawrence Hall, the spokesman for Zoopla, said “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 data released by Zoopla revealed that the biggest growth in house prices was seen in the East of England, with the average price risen 11.56% over this year to £358,401.

In London where property prices are highest and which has seen the most rapid growth in recent years, slipped to ninth place as affordability issues for first-time buyers and tax hikes for investors bite down on demand. The city’s average grew 5.12% to £680,593.

“As city centre living becomes increasingly less affordable, our data shows significant increases in property values in popular commuter towns,” Hall said. “Towns such as Leatherhead in Surrey and Diss in Norfolk, which offer commuting times to London of under one hour and 90 minutes respectively, have proved particularly desirable.”

Average property value and increase by country

RankingCountryCurrent average value% increase in value since January 2016
1England£325,5757.59%
2Scotland£185,3555.56%
3Wales£179,0743.8%

Average property value and increase by region

RankingRegionCurrent average value% increase in value since January 2016
1East of England£358,40111.56%
2West Midlands£220,9938.74%
3South East England£411,7368.44%
4South West England£297,0547.88%
5North West England£190,0057.57%
6East Midlands£209,1837.42%
7Yorkshire and The Humber£173,3625.58%
8Scotland£185,3445.56%
9London£680,5935.12%
10Wales£179,0963.80%
11North East England£187,6832.41%

Top 10 post towns for price growth since January 2016

RankingTownCurrent average value% increase in value since January 2016
1Diss, Norfolk£305,89616.20%
2Leatherhead, Surrey£833,63114.70%
3Southall, London£382,15314.55%
4Crook, County Durham£121,94914.45%
5Seaford, East Sussex£351,88814.29%
6Woodford Green, Essex£616,92514.28%
7Chippenham, Wiltshire£338,10214.14%
8Northwood, London£915,20714.13%
9Shoreham-By-Sea, West Sussex£387,24813.80%
10Upminster, Essex£552,56113.77%

Bottom 10 post towns for price growth since January 2016

RankingTownCurrent average value% increase in value since January 2016
1Aberdeen, Aberdeenshire£217,234-2.83%
2Llandudno, Conwy£195,623-2.38%
3Ashington, Northumberland£108,611-2.31%
4Bangor, Gwynedd£165,673-1.03%
5Newquay, Cornwall£264,892-0.81%
6West Drayton, London£360,604-0.43%
7Ossett, West Yorkshire£167,2240.02%
9Tredegar, Blaenau Gwent£93,4580.25%
10Pontypridd£144,4130.51%

Source: Zoopla, December 2016

 

Written by: The Team | On: December 21, 2016

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