House prices up £57 a day in 2016, says Zoopla

Home owners benefited on average almost £57 a day from rising prices, according to analysis by Zoopla.

The portal says price rises in 2016 “weren’t too far from reality”, coming in at 7.35% on average, while predictions had ranged from zero to 6% growth.

At the start of 2016, Zoopla highlighted, Halifax was predicting increases of 4-6%, Hamptons forecast prices up 4.5% while RICS was more ambitious at 6%. Henry Pryor was slightly behind with a prediction of 4%.

Zoopla’s research found that homes in Britain have gained £19,348 in the past year and now stand at £325,575.

The East of England saw the biggest price rise, up 11.56% to £358,401, just ahead of the West Midlands which grew 8.74% to £220,993, while the South-East was up 8.44% to £411,736.

Growth in London was more modest at 5.12% to £680,593 while the worst performing region was the North of England, growing just 2.14% to £187,683.

The town of Diss in Norfolk was the biggest winner in 2016 in terms of price growth, up 16.2% to £305,896.

Aberdeen proved to be Britain’s worst-performing town with a price fall of 2.83% to £144,413.

Lawrence Hall, spokesman for Zoopla, said: “2016 has certainly been an historic year with the events of the last six months giving rise to potential political uncertainty.

“However, the property market – it seems – remains resilient and property values across Britain have continued to grow.

“As city centre living becomes increasingly less affordable, our figures show significant increases in property values of commuter towns; those around the capital feature heavily in the top performers list.

“Towns such as Leatherhead and Diss, which offer commuting times to London of less than an hour and 90 minutes respectively, have proved particularly desirable.”


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Written by: Houseladder