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British property prices flat overall in 2011

11th January 2012

…but North/South divide in England widens further.

Average house prices in Britain finished 2011 at £221,331, down a modest £854 (0.38%) from the same time one year ago, according to property valuation website Zoopla.co.uk.

Scotland, where average property values now stand at £164,844, outperformed the rest of Britain in 2011, recording an average increase of 6.73%. Average home values fell across England by 0.75% (£1,719) and finished the year at £228,926, whilst the average property in Wales is now worth £153,826, down £172 (0.11%) on one year ago.

In England, property values have risen over the past 12 months in London the South East whilst falling substantially in the North. The average home in London is now worth £416,890 up £9,283 (2.28%) on one year ago. The North East was the worst performing region over the past year with average house prices falling £9,596 (5.77%) to £156,659. (See Table 1)

Wigan tops the list of best performing cities over the last year, with property values having climbed 5.62% (£7,057). In contrast, homeowners in Newcastle saw an average decline in property prices of 5.5% (£9,650) over 2011. (See Tables 2 and 3)

Nicholas Leeming, business development director of Zoopla.co.uk, commented: “National statistics on the housing market can mask differing fortunes in different parts of the country. Londoners continue to see the market go from strength to strength with high demand for a limited number of properties boosting house prices. However, for areas such as the North East where the local economy has suffered more than most, it’s a different story. 2012 does not show much sign of being markedly different to 2011, however, if the overall economy starts to show signs of strength this will filter quickly through to the property market.”


TABLE 1: Average property values in Britain by region

Region Avg. today Avg. 12m ago £ change % change
Scotland £164,844 £154,448 £10,396 6.73%
London £416,890 £407,607 £9,283 2.28%
East of England £236,522 £234,448 £2,074 0.89%
South East England £283,802 £283,611 £191 0.07%
Wales £153,826 £153,998 -£172 -0.11%
South West England £226,525 £229,571 -£3,046 -1.33%
East Midlands £160,663 £165,662 -£4,999 -3.02%
West Midlands £171,236 £176,597 -£5,361 -3.04%
Yorkshire and the Humber £143,249 £147,871 -£4,622 -3.13%
North West England £155,386 £160,537 -£5,151 -3.21%
North East England £156,659 £166,255 -£9,596 -5.77%

TABLE 2: Best performing cities in Britain over last 12m

Rank Location Avg. today Avg. 12m ago £ change % change
1 Wigan £132,517 £125,460 £7,057 5.62%
2 Aberdeen £209,706 £201,070 £8,636 4.30%
3 Ipswich £185,508 £178,642 £6,866 3.84%
4 Cardiff £188,955 £182,547 £6,408 3.51%
5 Edinburgh £227,516 £220,515 £7,001 3.17%
6 Dundee £148,315 £144,469 £3,846 2.66%
7 Plymouth £166,887 £162,595 £4,292 2.64%
8 York £220,595 £215,352 £5,243 2.43%
9 Bournemouth £224,315 £219,073 £5,242 2.39%
10 Cambridge £308,914 £302,848 £6,066 2.00%

TABLE 3: Worst performing cities in Britain over last 12m

Rank Location Avg. today Avg. 12m ago £ change % change
1 Newcastle Upon Tyne £165,605 £175,255 -£9,650 -5.51%
2 Leicester £166,075 £174,092 -£8,017 -4.61%
3 Bolton £130,506 £135,945 -£5,439 -4.00%
4 Lincoln £152,348 £158,109 -£5,761 -3.64%
5 Liverpool £136,868 £141,854 -£4,986 -3.51%
6 Wolverhampton £151,548 £156,450 -£4,902 -3.13%
7 Northampton £176,172 £181,789 -£5,617 -3.09%
8 Rotherham £122,183 £125,871 -£3,688 -2.93%
9 Warrington £173,593 £177,481 -£3,888 -2.19%
10 Manchester £138,416 £141,185 -£2,769 -1.96%

- Ends -

For further information, please contact Tim Vooght at pr@zoopla.co.uk or on 020 3872 5615.

Notes to editors

Zoopla is the UK's most comprehensive property website, focused on empowering users with the resources they need to make better-informed property decisions. We help consumers both find their next home and research the market by combining hundreds of thousands of property listings with market data, local information and community tools.

At Zoopla we are fans of transparency and everything we do is aimed at making the market more efficient for both property consumers and advertisers alike. Zoopla has rapidly become the UK’s leading online destination for property consumers to search for homes and do their market research and the favoured online marketing partner for UK estate agents, letting agents and property developers.

Launched in 2008, Zoopla has since been one of the fastest growing websites in the UK, now attracting over 40 million visits per month and we are proud to have collected numerous awards and accolades along the way, including being named one of the Top 10 UK Tech Companies (Guardian) and one of the Top 10 Most Innovative UK Companies (Smarta).

Zoopla is part of Zoopla Limited which was founded in 2007.

Zoopla Limited, The Cooperage, 5 Copper Row, London, SE1 2LH
Registered in England and Wales with Company No. 09005884
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