The worth of Britain’s housing market continues to strengthen as the first quarter of 2018 trumped last year’s figures

The total value of British homes rose by £114billion in the first three months of 2018, equating to £3,917 for the average British home - or £44 per day.

It brings the total amount to £8.3 trillion according to the latest data from Zoopla and showed notable year-on-year growth because the market shrunk by £29 billion in the same period in 2017.

The North West is Britain’s biggest boom region with an average property value increase of 1.85%. The East Midlands and Yorkshire & The Humber closely follow with growth of 1.58%, with Wales witnessing the lowest average property price increase of 0.11%.

This two-bed terraced house in Sidcup is on the market for £350,000

Sidcup in Kent tops the table for the best performing town, with property prices rising by an average of £11,761.

The affluent market town of Heathfield in East Sussex takes second place with average property prices up 2.87% and Wallingford in Oxfordshire places third with an average property value growth of 2.84%. 

Immingham in North East Lincolnshire is the worst performing town of the last quarter as property prices have fallen by 1.72%. Further south, the commuter town of Esher has also seen a drop of £12,042.

REGIONAL VALUE CHANGES (JANUARY - MARCH 2018)

Ranking

Region

Average value January (£)

Average value March (£)

£ increase in value Q1

% increase in value Q1

1

North West England

£192,397

£195,949

£3,552

1.85%

2

East Midlands

£212,557

£215,914

£3,357

1.58%

3

Yorkshire & The Humber

£174,353

£177,103

£2,750

1.58%

4

West Midlands

£223,886

£227,363

£3,477

1.55%

5

London

£663,172

£673,013

£9,841

1.48%

6

South East England

£404,546

£410,452

£5,906

1.46%

7

East of England

£355,648

£360,695

£5,047

1.42%

8

North East England

£186,002

£188,580

£2,578

1.39%

9

South West England

£301,847

£306,009

£4,162

1.38%

10

Scotland

£189,297

£189,628

£331

0.17%

11

Wales

£186,053

£186,256

£203

0.11%

TOP 10 TOWNS FOR VALUE INCREASES (JANUARY - MARCH 2018)

Ranking

Towns

Average value January (£)

Average value March (£)

£ increase in value Q1

% increase in value Q1

1

Sidcup, Kent

£406,729

£418,490

£11,761

2.89%

2

Heathfield, East Sussex

£436,202

£448,727

£12,525

2.87%

3

Wallingford, Oxfordshire

£488,157

£502,017

£13,860

2.84%

4

Glastonbury, Somerset

£305,889

£314,476

£8,587

2.81%

5

Darwen, Lancashire

£126,552

£130,104

£3,552

2.81%

6

Faversham, Kent

£328,246

£337,389

£9,143

2.79%

7

Batley, West Yorkshire

£140,069

£143,947

£3,878

2.77%

8

Devizes, Wiltshire

£319,906

£328,744

£8,838

2.76%

9

Kenilworth, Warwickshire

£397,190

£408,085

£10,895

2.74%

10

Hungerford, West Berkshire

£454,053

£466,188

£12,135

2.67%

BOTTOM 10 TOWNS FOR VALUE INCREASES (JANUARY - MARCH 2018)

Ranking

Towns

Average value January (£)

Average value March (£)

£ decrease in value Q1

% decrease in value (Q1)

1

Immingham, North East Lincs

£121,805

£119,708

-£2,097

-1.72%

2

Esher, Surrey

£1,071,703

£1,059,661

-£12,042

-1.12%

3

Ripon, North Yorkshire

£285,982

£282,885

-£3,097

-1.08%

4

Caernarfon, Gwynedd

£172,974

£171,177

-£1,797

-1.04%

5

Edgware, London

£498,260

£493,212

-£5,048

-1.01%

6

Ebbw Vale, Blaenau Gwent

£107,361

£106,339

-£1,022

-0.95%

7

Snodland, Kent

£274,711

£272,109

-£2,602

-0.95%

8

Lee-On-The-Solent, Hants

£322,587

£319,570

-£3,017

-0.94%

9

Thame, Oxfordshire

£444,012

£439,966

-£4,046

-0.91%

10

Windsor, Windsor & Maidenhead

£595,380

£590,166

-£5,214

-0.88%

Sources: Zoopla, April 2018  

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