UK house prices jump by £7,000 over the first half of 2015
UK homes rose in value by 2.7% in the first six months of this year.
The price of UK homes rose by an average of £7,000 (2.7%) in the first half of this year, according to property website Zoopla.
At the start of July, the average UK house price stood at £270,674, up £6,974 on January’s figure of £263,699.
Property prices rose across the UK over the first half of the year. Scotland experienced the highest rate of growth, with an average increase of 6.6% (£11,382). The average home in Scotland now costs £183,230.
The next best performers were the North East and the North West reporting a 3.1% and 3% increase respectively.
Wales fared the worst with a 1% rise over the first half of the year (£1,584).
|
Region |
Average value January 2015 |
Average value July 2015 |
£ change |
% change |
|
Scotland |
£171,848 |
£183,230 |
£11,382 |
6.6% |
|
North East England |
£171,044 |
£176,390 |
£5,346 |
3.1% |
|
East of England |
£289,112 |
£297,878 |
£8,766 |
3.0% |
|
North West England |
£167,118 |
£171,977 |
£4,859 |
2.9% |
|
South East England |
£256,396 |
£261,731 |
£5,335 |
2.1% |
|
London |
£584,777 |
£599,162 |
£14,385 |
2.5% |
|
West Midlands |
£189,735 |
£193,717 |
£3,982 |
2.1% |
|
South West England |
£256,396 |
£261,731 |
£5,335 |
2.1% |
|
East Midlands |
£180,645 |
£184,119 |
£3,474 |
1.9% |
|
Yorkshire and The Humber |
£154,226 |
£156,708 |
£2,482 |
1.6% |
|
Wales |
£164,894 |
£166,478 |
£1,584 |
1.0% |
Zoopla’s Lawrence Hall said that the Scottish house price boost could be down to a ‘post-referendum bounce’ as businesses and capital return following the uncertain September vote.
City to city changes
Edinburgh registered the largest growth in houses from January at 8.2%, a £20,465 increase. Aberdeen secured third place with a 6.4% (£15,416) rise over the first six months, coming second to Colchester in Essex, which saw a 7.6% (£19,088) increase.
Yorkshire, on the other hand, has three of the ten worst-performing cities. Rotherham topped the list with a dip of 2.1% (-£2,752). Wolverhampton, Newcastle-upon Tyne and Middlesbrough saw modest dips of -0.1% each (-£273 and -£97 respectively).
Surprisingly, London was slightly below the national average with only a 2.5% (£14,385) rise since January. Recent reports suggest the new tiered Stamp Duty charges, which are far higher for properties over £925,000, are having an impact.
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