Wednesday, 10 July 2013

Average UK house price up £5,899 to £235,912

An average house is now worth £235,912 - a rise of £5,899 - as prices in London and the south east pushed up the value.
The study study by Zoopla  found all 11 UK regions saw average property prices rise by at least 2% - the first time it has happened since the credit crunch bit in 2008.
However, the biggest increases were outside the capital as the East Midlands lead the way with a 2.78% jump, taking prices from £161,415 to £165,910.
Yorkshire and Humberside saw a similar 2.78% rise as prices leapt from £141,699 to £145,632.
Ellesmere in Shropshire was the best performing town with a 3.25% surge in house prices as average values rocketed from £204,969 to £211,626.
And homes in Ripon, North Yorkshire increased in value by 3.23% from £239,222 to £246,951.
Glenrothes in Fife was the slowest climber with a 1.69% rise in house prices with Heywood, Greater Manchester managing a 1.7% increase and Spennymoor, County Durham and Gainsborough, Lincolnshire seeing prices rise by just 1.73%.
Zoopla spokesman Lawrence Hall said a boost in consumer confidence and better lending had lifted the market.
He added: “The housing market is at its strongest since the Lehman Brothers collapse.
“Mortgage lending has improved markedly this year, which is unclogging the bottleneck at the lowest end of the market.
“This is starting to drive activity all the way up the housing chain and house prices have increased as a result, and for once not just in the South East. The East Midlands, Wales, and Yorkshire have all have seen prices increase more than London during the second quarter.”

Average property values by region

Region April 2013 July 2012 % change
East Midlands £161,415 £165,910 2.78
Yorkshire and Humberside £141,699 £145,632 2.78
Wales £152,878 £157,033 2.72
London £465,646 £478,256 2.71
North East £158,357 £162,595 2.68
West Midlands £172,013 £176.602 2.67
North West £154,912 £159,019 2.65
South East £292,112 £299,765 2.62
Scotland £158,344 £162,169 2.42
East of England £243,649 £249,363 2.35
South West £228,784 £233,999 2.28

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