Property Values in Britain: Rises and Falls so far this Year
By |Published On: 29th July 2019|

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Property Values in Britain: Rises and Falls so far this Year

By |Published On: 29th July 2019|

This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.

Zoopla’s latest figures show an increase in the average British property value by £2,046 during the first half of 2019.

Regionally, this is led by the West Midlands, with an average increase of £6,695 since the start of the year.

The worst performing region in Britain was London, which has so far this year fallen significantly by £13,035. 

Regional value changes since January 2019

RankRegionJanuary value (£)July value (£)£ total change£ change per day
1West Midlands£230,676£237,371£6,695£36.58
2South East England£406,821£413,284£6,463£35.32
3North West England£198,446£202,177£3,731£20.39
5Yorkshire and The Humber£181,918£184,181£2,263£12.37
6East of England£360,707£362,823£2,116£11.56
7East Midlands£224,352£226,177£1,825£9.97
8North East England£192,388£193,663£1,275£6.97
9South West England£309,333£310,165£832£4.55

Looking at individual towns, Berkhamsted (in Hertfordshire) has seen the biggest increase. The average home here has increased by £33,875. The worst performing town was Leatherhead in Surrey, which saw average property values fall by £16,309.

Laura Howard, spokesperson for Zoopla, commented: “The UK housing market gained £60bn in value during the first six months of the year. An increase in the total value of housing was recorded across nine of the 11 regions analysed, with average property values in the West Midlands making the most money for homeowners.

“Perhaps then, it is no coincidence that in the last six months residents in the West Midlands, more specifically those in Birmingham, have been the most regular visitors to Zoopla’s house prices tool, which gives a price estimate for the value of homes, down to a single address.

“At the other end of the spectrum, residential values in London have continued on the downward trajectory of the last three years. However, a patchwork of micro-markets in the capital means there are a number of neighbourhoods – from Notting Hill to Forest Hill – that are bucking the trend of price falls and registering price rises.

“The difference in London’s house price activity is perhaps reflected by the fact that three of its boroughs (Wandsworth, Bromley and Croydon) feature in our top 10 locations where residents most-used our house prices tool. Homeowners in those areas are eagerly looking to see whether their home is increasing or decreasing in value in a mixed performance market.

“Whilst our house price tool is a helpful starting point for consumers, we always recommend vendors, buyers, landlords and tenants alike speak to one of our local agents who will be able to provide a wealth of industry knowledge and on the ground insights on local markets.”

About the Author: Em Morley (she/they)

Em is the Content Marketing Manager for Just Landlords, with over five years of experience writing for insurance and property websites. Together with the knowledge and expertise of the Just Landlords underwriting team, Em aims to provide those in the property industry with helpful resources. When she’s not at her computer researching and writing property and insurance guides, you’ll find her exploring the British countryside, searching for geocaches.

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