Average house price has risen over six months

Despite the economic gloom and fears for the euro, the average home in Britain has risen by 2.6 per cent since January, pushing up the average price of a home by more than £5,000 to about £216,000, says a new market survey.
By The Newsroom
Published 20th Aug 2011, 17:29 BST

According to the latest data from property website Zoopla.co.uk, homeowners in the first half of 2011 clawed back some of the losses they suffered last year.

Average prices dropped by nearly £11,000 in June-December 2010.

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The average home in England now costs £216,260 and in Wales £152,576, while property prices in Scotland have been more sluggish, growing only 1.1 per cent since January to an average £155,927.

Zoopla says prices have risen in eight of the 11 regions of Britain, with only the South West, East Midlands and North East experiencing a drop.

The strongest region, by far, is London, where average house prices have climbed 5.3 per cent since January and average £408,888 today, against £388,265 at the start of the year.

Nicholas Leeming, Zoopla director, said: “The property market is back on the right track with most regions having clawed back some of the ground lost at the end of last year.

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“London is powering ahead of the pack with average values now at their highest level since January 2009.

“However, there is still some uncertainty over the future of the economy and it remains to be seen if the second half of this year will continue upwards as the first half of 2011 or will follow the pattern of last year and give back some of the first half gains in the latter part of the year.”

But homeowners remain nervous of the future.

l Average house prices over past six months (country, July 2011, January 2011, percentage change):

England, £226,829, £220,844, 2.7

Wales, £152,576, £148,530, 2.7

Scotland, £155,927, £154,213, 1.1

Britain, £216,260, £210,782, 2.6

l Average house prices by region over past six months (region, July 2011, January 2011, percentage change):

London, £408,888, £388,265, 5.3

East England, £233,646, £226,173, 3.3

Wales, £152,602, £148,555, 2.7

South East, £280,213, £272,887, 2.7

Yorks/Humber, £143,734, £141,136, 1.8

West Midlands, £170,704, £168,612, 1.2

Scotland, £155,910, £154,197, 1.1

North West, £156,261, £155,617, 0.4

South West, £223,198, £224,119, -0.4

East Midlands, £161,189, £161,970, -0.5

North East, £158,683, £159,802, -0.7

Related topics:BritainLondonScotlandWalesNorth EastEast Midlands