The typical home saw £2,046 added to its value during the first six months of the year.

The value of the average home increased by £11 a day during the first half of 2019, adding £60 billion to the total value of the UK’s housing stock.

House prices rose by £2,046 in the six months to the end of June, but the headline figure masked significant regional variation, according to analysis by Zoopla.

The West Midlands was the best performing region, with property values jumping by an average of £36.58 a day, giving a total gain of £6,695.

But at the other end of the spectrum, house prices in London fell by £71.23 a day, wiping around £13,035 off their value during the first half of the year.

Laura Howard, spokesperson for Zoopla, said: “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 for homeowners.

“Perhaps then, it’s no coincidence that in the last six months it’s residents of West Midlands, more specifically those in Birmingham, who 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.”

Which regions have seen the strongest growth?

While the West Midlands posted the strongest house price gains during the first half, south east England was not far behind, with the typical home adding £35.32 a day to its value or a total of £6,463.

North west England saw the third strongest gains at £20.39 a day, with Yorkshire and the Humber completing the top five with homes in the region rising by an average of £12.37 a day during the first half of the year.

Regional value changes since January 2019

Rank

Region

January value (£)

July value (£)

£ total change 

£ change per day

1

West Midlands

230,676

237,371

£6,695

£36.58

2

South East England

406,821

413,284

£6,463

£35.32

3

North West England

198,446

202,177

£3,731

£20.39

4

Wales

190,610

193,910

£3,300

£18.03

5

Yorkshire and The Humber

181,918

184,181

£2,263

£12.37

6

East of England

360,707

362,823

£2,116

£11.56

7

East Midlands

224,352

226,177

£1,825

£9.97

8

North East England

192,388

193,663

£1,275

£6.97

9

South West England

309,333

310,165

£832

£4.55

10

Scotland

194,942

191,174

-£3,768

-£20.59

11

London

670,535

657,500

-£13,035

-£71.23

Where is the housing market slower?

Alongside London, Scotland was the only other region to see house price falls in the first half of 2019, with properties north of the border losing an average of £20.59 of their value each day.

Meanwhile, growth was subdued in the South West, with house prices rising by just £4.55 a day or a total of £832 during the first six months, and the North East, where property values rose by £6.97 a day.

Despite the price falls, London continues to have the most expensive homes by some margin, with the average property costing £657,500, followed by the south east of England at £413,284.

What about individual towns?

In terms of individual towns, properties in Berkhamsted enjoyed the largest gains at an average of £185.11 a day, adding a massive £33,875 to their value during the first half of the year.

Reigate was not far behind with house prices in the town rising by £184.28 a day, followed by Epping at £178.45 a day.

In London, Notting Hill and Holland Park saw the fastest house price rises at £141.46 a day. 

By contrast, the biggest losses were recorded in Hampstead, Belsize Park and Swiss Cottage, where house prices slipped by an average of £179.28 a day, and Leatherhead at £141.46 per day.

Top 10 post towns for value increases since January 2019

Rank

Town

January value (£)

July value (£)

£ total change 

£ change per day

1

Berkhamsted

683,356

717,231

£33,875

£185.11

2

Reigate

583,392

617,115

£33,723

£184.28

3

Epping

593,587

626,244

£32,657

£178.45

4

Billericay

523,326

554,625

£31,299

£171.03

5

Winchester

537,660

568,681

£31,021

£169.51

6

Bushey

565,030

593,849

£28,819

£157.48

7

Ware

462,779

489,563

£26,784

£146.36

8

Godalming

593,181

619,963

£26,782

£146.35

9

Uckfield

440,467

464,636

£24,169

£132.07

10

Waltham Cross

399,642

423,025

£23,383

£127.78

Top 3 takeaways

  • The value of the average home increased by £11 a day during the first half of 2019 adding £60 billion to the total value of the UK’s housing stock

  • The West Midlands was the best performing region, with property values jumping by an average of £36.58 a day

  • House prices in London fell by £71.23 a day, wiping around £13,035 off their value during the first half of the year

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