How much has the price of your home risen by?

Mon 07 Mar 2016

Homeowners in all areas of the UK have benefited from rising house prices in the last year, with the average property increasing in value by 7.1 per cent.

New figures from Land Registry show the typical price of a home is now £191,812, up from £179,096 12 months ago.

Many people have enjoyed even more substantial increases, with properties in London said to have grown in value by 13.9 per cent over the last year.

Homes in the south-east recorded a 10.7 per cent rise, while there were similarly positive results in the east of England (8.9 per cent), Wales (6.8 per cent), West Midlands (6.6 per cent) and south-west (6.2 per cent).

However, more modest house price rises occurred in some areas, such as the north-east (0.2 per cent).

As well as location, the type of property in question was found to play a key role in determining its capital growth in the year in question.

Flats performed particularly strongly, increasing in value by an average of 8.2 per cent to reach a typical price of £187,160.

It means flat owners enjoyed the most rewarding 12 months ahead of those with terraced houses (6.9 per cent), detached houses (6.9 per cent) and semi-detached houses (6.5 per cent).

With significant house price increases in recent months and continuing strong demand from buyers, now could be a shrewd time to sell a property. For more information on getting the best price for your home, contact your local Leaders branch.