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Average British home values rise by £21 per day over first half of 2016

24th July 2016

  • Average home in Britain now worth £290,725, up 1.29% since start of year
  • This equates to a daily growth of £21 per day for the average property
  • Britain’s total housing stock now worth £7,805,159,117,194
  • Huddersfield, Coventry and York are the locations with the biggest growth
  • London, Greater Manchester and Edinburgh are most searched for locations
  • The average British home increased in value by £21.07 per day over the first half of 2016, according to property website Zoopla. Average property values now stand at £290,725, up 1.29% (£3,847) compared to January of this year.

    Regionally, properties in the North West, Yorkshire and Humber and the East of England rose the most in value terms over the first six months of 2016, increasing by 3.24 per cent (£5,632) 2.63 per cent (£4,238) and 2.40 per cent (£7,706) respectively.

    Meanwhile Scotland, South West England and London performed the worst in the first half of this year, with values in Scotland declining by 0.76 per cent (£1,368), dipping in South West England by 0.34 per cent (£934) and only increasing by 0.09 per cent (£601) in London.

    Biggest winners and losers Huddersfield was the biggest winner in the first half of the year in terms of value rises, registering an average property value growth rate of 4.71 per cent (£7,530). The Yorkshire town was closely followed by Coventry which saw a 3.46 per cent increase (£6,122) on the average property and York where properties increased by 3.4 per cent (£9,006).

    At the bottom of the pile, Aberdeen, Plymouth and Newcastle upon Tyne dropped the most in value, where the average property lost 2.6 per cent (£5,904), 1.84 per cent (£3,571) and 1.82 per cent (£3,623) respectively.

    Top site searches Zoopla’s data reveals the Capital is the most sought after location to buy or rent so far this year, with London receiving the most property searches, closely followed by Greater Manchester and West Yorkshire. Meanwhile the keyword search data found Brits are clearly looking for properties with plenty of external space. The most popular searches in the first half of the year were ‘garden’, ‘garage’ and ‘detached’ while ‘acres’ came in ninth place.

    Lawrence Hall of Zoopla commented: “While comparatively the British property market growth hasn’t seen the same level of growth as there was in the first half of 2015, where it saw a 5.44 per cent increase, the first half of this year has seen steady growth albeit at a slower rate. Considering the rocky political and economic landscape we currently face, it’s not surprising that this uncertainty has been reflected in a slowdown in growth in values in the run up to the EU vote. It’s too soon to determine what the effect the vote to leave the EU will have on property values, but it is likely that transactions will have slowed a little in the run up to the vote.”

    Regional value changes (high to low) so far in 2016

    Region January value July value % change £ change
    North West England £173,860 £179,492 3.24% £5,632
    Yorkshire & Humber £161,194 £165,432 2.63% £4,238
    East of England £320,931 £328,637 2.40% £7,706
    Wales £171,874 £175,118 1.89% £3,244
    South East England £378,901 £384,594 1.50% £5,693
    North East England £178,723 £180,667 1.09% £1,944
    West Midlands £202,125 £203,850 0.85% £1,725
    East Midlands £193,298 £194,340 0.54% £1,042
    London £650,261 £650,862 0.09% £601
    South West England £276,752 £275,818 -0.34% -£934
    Scotland £179,796 £178,428 -0.76% -£1,368

    Top 10 post towns for value increases so far in 2016

    Town January value July value % change £ change
    Huddersfield £159,776 £167,306 4.71% £7,530
    Coventry £176,740 £182,862 3.45% £6,122
    York £264,610 £273,616 3.40% £9,006
    Bristol £287,818 £296,119 2.88% £8,301
    Ipswich £239,437 £246,268 2.85% £6,831
    Northampton £224,148 £230,035 2.63% £5,887
    Peterborough £200,377 £205,534 2.57% £5,157
    Bolton £148,092 £151,894 2.57% £3,802
    Bedford £2293,299 £300,421 2.43% £7,122
    Brighton £360,203 £368,800 2.39% £8,597

    Bottom 10 post towns for value increases so far in 2016 (/p>

    Town January value July value % change £ change
    Aberdeen £227,317 £221,413 -2.60% -£5,904
    Plymouth £193,866 £190,295 -1.84% -£3,571
    Newcastle upon Tyne £198,973 £195,350 -1.82% -£3,623
    Wolverhampton £181,485 £178,342 -1.73% -£3,143
    Leicester £204,299 £200,949 -1.64% -£3,350
    Stockport £233,181 £230,610 -1.11% -£2,571
    Liverpool £157,630 £156,007 -1.03% -£1,623
    Glasgow £170,460 £168,740 -1.01% -£1,720
    Southampton £268,478 £265,919 -0.95% -£2,559
    Walsall £166,200 £164,808 -0.84% -£1,392

    Most searched for keywords on Zoopla so far in 2016

    Ranking Keyword
    1 Garden
    2 Garage
    3 Detached
    4 Parking
    5 Bungalow
    6 Furnished
    7 Annexe
    8 Cottage
    9 Acres
    10 Conservatory

    Most searched for locations on Zoopla so far in 2016

    Ranking Keyword
    1 London
    2 Greater Manchester
    3 West Yorkshire
    4 Kent
    5 Edinburgh
    6 West Midlands
    7 Lancashire
    8 Glasgow
    9 Birmingham
    10 Nottingham
    Source: Zoopla, July 2016

    - Ends -

    For further information, please contact PR Team on pr@zoopla.co.uk or +44 (0)20 3873 8770.

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