UK home values rise by £12 a day

Homes added £12 a day on average to their value during 2019. The total value of Britain's housing market increased by £124bn across 2019, up 1.6% to £7.8trn, according to Zoopla. This equates to £4,702 being added on to the value of an average home over the past 12 months. In Wales, property values rose by nearly £20 a day on average, increasing by 3.9% to reach £189,244. Port Talbot was its biggest hotspot, with rises of nearly £40. Scotland has also seen faster house price growth than the average across Britain with a 2.2% rise to an average of £171,195, while England lagged behind with annual growth of 1.5%. However the average property in England is valued at a higher level than Scotland or Wales, at £316,784. In London, house prices lifted by 1.1%, which equates to adding around £19 per day to their value. In terms of property coldspots, in Aberdeen house prices fell by 3.9% - a decrease of £20.89 per day. Separately, data from Halifax shows Newham has witnessed the steepest rise in property prices in the UK this century, up by 429%, with other east London boroughs also featuring among the top-10 risers. At the other end of the scale, four local authority areas in Northern Ireland appeared at the bottom of the table for price growth in the UK. The figures also reveal that while the average UK house price has tripled from £91,199 to £279,998 over the past 20 years, wages have gone up only by about 70%.

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