Almost £17 a day is added to the average property price

July 24, 2017 by Brendan O'Neill

House Prices

According to recent analysis by Zoopla, the property website, the average UK property is increasing by nearly £17 a day.

Since the beginning of 2017, the average house price has risen by a little more than £3,000, according to the property site. In July, the average home was valued at £304,469, an increase of £3,039 since the start of the year. This equates to almost £17 each day.

The report also states that since the start of the year, the value of the UK property market has increased by £88 billion, reaching almost £8.1 trillion. However, not all regions in the country have experienced an increase in property values. Average property values have fallen in the north east of England, by £1,430 since the beginning of 2017. In Wales, the average price of a home has fallen by £1,553.

Although property prices are generally on the increase, the latest figures indicate a slowdown in comparison to 2016. Property hotspots during the first half of 2017 include Todmorden in Yorkshire and Belper in Derbyshire. The largest falls in values have been in Leatherhead in Surrey and Richmond in Yorkshire.

According to data from the keyword search, the top search terms are garage, detached and parking. The most popular locations on the search facility are Bristol, Edinburgh and London. Although home owners may not be happy about the slowdown in property values, it does give first time buyers a chance to get on the housing ladder. A CeMAP qualified mortgage advisor can also help first time buyers to find a suitable deal.