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Value of average home in Britain rises £11 a day

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Most regions saw rises in the first half of 2019, but in some areas prices have fallen by up to £71 a day
Value of average home in Britain rises £11 a day

The average British residential property has gained in value by £11 a day since January 2019, according to Zoopla.

The property portal found that overall £2,046 has been added to the value of the average home in the first six months of 2019.

But it found a wide divergence in performance of house prices across the regions.

Property hotspots

The West Midlands is Britain’s best-performing region, with average property prices rising by £37 each day since Jan 1st, or £6,695 in total.

The South East is close behind, where homeowners have seen their properties gain on average £35.32 each day (£6,463 in total) over the past six months, and the North West is in third place (+£20.39 per day or £3,731 in total).

The worst-performing region in Britain by far was London, where the average value of all housing has fallen by -£71.23 per day (-£13,035 in total).

This was followed by Scotland (-£20.59 per day or -£3,768 in total) and the South West, which saw a small increase (+£4.55 per day or £832 in total).

Local level

When you drill down further, homeowners in Berkhamsted in Hertfordshire have seen the most value added to their properties so far in 2019, with the average home here gaining £185.11 each day in value or £33,875 in total.

Leatherhead in Surrey was the worst-performing town in Britain for house prices in the first half of 2019, with the average property value falling by -£89.12 in value each day (-£16,309 in total).

Laura Howard, spokesperson for Zoopla, said: “The UK housing market gained £60bn in value during the first six months of the year. An increase in the total value of housing was recorded across nine of the 11 regions analysed, with average property values in the West Midlands making the most money for homeowners.

“Perhaps then, it is no coincidence that in the last six months residents in the West Midlands, more specifically those in Birmingham, have been the most regular visitors to Zoopla’s house prices tool, which gives a price estimate for the value of homes, down to a single address.”

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