The average British home went up in value by £12 per day during 2019, new data suggests – good news for owners looking to sell up, but another blow for the thousands of Brits currently priced out of the housing market.
Some British property values have ballooned by an average of nearly £40 every day over the past year, according to analysis by property website Zoopla. But in other parts of the country, homes saw around £20 per day knocked off their value.
Across Britain, the average property value was estimated at £296,785.
In Wales, property values increased by nearly £20 per day on average. Over the past 12 months, property values have increased by 3.9% to reach a typical asking price of £189,244.
Port Talbot in South Wales was identified as 2019’s biggest hotspot for house price growth, with property values increasing by 7.5% – nearly double the average across Wales.
Staying in Wales, Cwmbran was pinpointed by Zoopla as the second biggest hotspot, with property values increasing by 6.9% to an average of £168,212.
Another part of Britain to see relatively strong house price growth was the north west of England, where values increased by 3.2% over the past year to £190,645 on average. Leigh, between Wigan and Manchester, was identified as Britain’s third biggest property hotspot of 2019, with values increasing by 6.3% to reach £127,148 on average.
Scotland has also seen faster house price growth than the British average over the past year. The whole housing market in Scotland has seen values increase by 2.2% to an average of £171,195. In Edinburgh, homes have piled £39.39 a day on average to their value over the past year, the research found.
England lagged behind with annual growth of 1.5%. But the average property in England is still valued at a higher level than Scotland or Wales, at £316,784.
The English regions with the slowest annual house price growth were the South East (0.6%) and the East of England (0.9%) – but that may be because prices were already sky high to start.
In London, house prices increased by 1.1% on average. Despite being a relatively low percentage increase, this still equates to homes in the capital getting £19 more expensive per day.
Here are the average property values by region in 2019, plus the average daily cash increase:
1. Wales: £189,244 – daily increase £19.60
2. North West England, £190,645 – daily increase £16.07
3. Yorkshire and the Humber, £168,486 – daily increase £12.70
4. West Midlands, £223,986 – daily increase £16.85
5. East Midlands, £217,420 – daily increase £14.59
6. Scotland, £171,195 – daily increase £9.88
7. North East England, £174,325 – daily increase £9.60
8. South West England, £308,189 – daily increase £13.54
9. London, £632,480 – daily increase £19.01
10. East of England, £360,961 – daily increase £8.43
11. South East England, £414,825 – daily increase £6.56
These are the places where property prices have increased the most:
1. Port Talbot, £122,074 – daily increase £23.22 (7.5%)
2. Cwmbran, £168,212 – daily increase £29.59 (6.9%)
3. Leigh, £127,148 – daily increase £20.52 (6.3%)
4. Cannock, £183,841 – daily increase £25.83 (5.4%)
5. Edinburgh, £290,968 – daily increase £39.39 (5.2%)
=6. Bootle, £99,330 – daily increase £13.02 (5.0%)
=6. Merthyr Tydfil, £116,108 – daily increase £15.13 (5.0%)
=8. Salford, £182,065 – daily increase £22.96 (4.8%)
=8. Walsall, £179,238 – daily increase £22.65 (4.8%)
=8. Neath, £134,486 – daily increase £16.84 (4.8%)
Here are the places where property prices have decreased
1. Aberdeen, £189,965 – minus £20.89 daily (3.9%)
2. Witney, £390,376 – minus £19.38 daily (minus 1.8%)
3. Woking, £538,496 – minus £21.58 daily (minus 1.4%)
4. Reading, £432,297 – minus £15.56 daily (minus 1.3%)
5. Barnstaple, £263,049 – minus £8.15 daily (minus 1.1%)
6. Kilmarnock, £119,693 – minus £3.30 daily (minus 1.0%)
=7. Maidenhead, £582,902 – minus £13.67 daily (minus 0.8%)
=7. Chippenham, £349,216 – minus £7.70 daily (minus 0.8%)
=7. Chatham, £256,848 – minus £5.61 daily (minus 0.8%)
10. Darlington, £148,916 – minus £3.04 daily (minus 0.7%).