UK Property Values Rise by £17 a Day
A Recent analysis of the property market's performance across 2017 has shown that UK homes are gaining almost £17 in value daily.
The latest report from Zoopla has revealed that house prices in Britain have seen an increase of £3,039 on average since January 1st, meaning a £16.79 daily increase in value taking the average house price to £304,469.
There were some standouts from region to region with the West Midlands increasing the most in value over the first 6 months of 2017, seeing a 2.6% rise and daily increase of approximately £30.
Belper in Derbyshire was at the top of the table when looking at individual towns, showing a massive 7.43% increase in value since January resulting in a daily increase of £92, closely followed by Hove near Brighton showing a similar increase of 7.07% and a massive daily increase of roughly £169.
It was also found that across the UK the property market has increased by (1.1%) £88 billion as a collective, totalling at just under £8.1 trillion. While these figures are positive, they do show a slight slowdown from the same period last year, where the UK saw growth of 5.28%.
Zoopla Spokesperson, Lawrence Hall, spoke on the findings of the research, suggesting that predictions for the market were much worse and although the growth could be viewed as minimal it is still a positive sign whilst in the middle of the economic uncertainty.
Hall said “While growth has slowed to a more modest rate, we’re not seeing the stark downturn in values that has been predicted.
“And while a slowdown might not be what homeowners want to hear, it does present a possible opportunity for those looking to get on the ladder by the end of the year.”