Increase of House Prices Over Last 12 Months
- 30 Dec
Over the last 12 months, house prices in Britain have increased 6% according to recently published data.
Property website Zoopla has revealed that the average home in Britain is now worth £268,895. This has increased from the figure at the end of 2013 which was £253,704. The majority of this increase was during the first 6 months of 2014. Inside Housing reports.
Different areas in England experienced increases in prices; south east of England (9.4%), east (7.8%) and south west (7.2%). However, the average prices in London rose considerably at 15.6% to £603,724.
The average prices in the north east of England only increased by 0.1% to £173,263 whereas prices in Yorkshire & Humber decreased by an average of 1.6% to £155,628.
Spokesperson for Zoopla, Lawrence Hall stated, ‘The property market has maintained its momentum during 2014 with price increases across most of the country despite initial concerns that the spate of regulatory policies designed to prevent risky lending would curb demand.
‘More regions this year saw property prices increase compared with last year, indicating that the property market recovery continues and that the buoyancy will likely continue into 2015.'
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