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Properties across Britain add £90 to their value every day!

Properties across Britain add £90 to their value every day!

House Prices are Surging

Homes across Britain added £90 to their value every day in the first half of 2014, according to a report published by property listings website, Zoopla.

The study found that the average property price across Britain now stands at £260,448, over £16,000 more than it was at the start of the year.

All regions across Britain saw price increases over the last six months; however, it was the north of England which housed Zoopla’ s ‘best performing town’, Salford, where prices grew at 12%, far exceeding the percentage growth of 8.2% seen in London.

As a whole, prices in the north west of England grew by £10,951 over the last six months and Laurence Hall, a spokesman for Zoopla, believes this shows that the property boom is now spreading beyond London to the north.

Hall commented: “Property price growth has largely been a London and South East story until recently, so it is very encouraging to see the house price recovery broadening and the ripple effect starting to take hold further north.”

Despite London house prices growing at a slower rate than Salford, the average house price in the capital did grow by £43,115 over the whole six month period, equating to a £232-a-day increase.

Additionally, properties in the south east of England saw a surge in values of £23,031 over the last six months, equating to a £127-a-day increase.

Property values in Yorkshire and the north east rose by around £50 a day in the first six months of 2014.

Wales and Scotland saw property prices rise at a much slower rate, jumping just £31 a day in Wales and £10 a day in Scotland.