House prices: The UK's homes rose in value by £1.4bn a day in 2015

 
Emma Haslett
Follow Emma
Inequality To Be A Key Election Issue
Homes rose in value by £20,000 on average during 2015 (Source: Getty)

Like big numbers? Read on...

The UK's homes rose in value by £1.4bn a day in 2015, giving our collective bricks and mortar a total value of £7.76 trillion by the end of the year, according to figures by online property portal Zoopla.

That figure is £519bn - or 7.2 per cent - higher than last year.

The average home in the UK is now worth £290,827 - £20,000 more than last year.

Where has the biggest increase been? Brentford in West London, apparently, where property prices rose 24 per cent. Meanwhile, in West Drayton, in London, and Thame, Oxfordshire, prices rose 17 per cent on average.

Regionally speaking, London experienced the biggest price rises, with values rising by 11.8 per cent on last year. The East of England was hot on its heels, with an 11.6 per cent rise, followed by the South East, where prices rose 8.8 per cent.

Meanwhile, the lowest growth was in Scotland and Wales, where values increased 2.7 per cent and 2.2 per cent respectively.

Zoopla spokesman Lawrence hall said price growth is still performing unusually strongly for the time of year.

“While the property market typically slows at this time of the year, prices have performed well in 2015.

"Regions like East Anglia continue to boom as professionals and families seek out properties beyond the London commuter belt. Even regions like Wales, where growth has typically been very incremental, have totalled respectable annual growth rates.

"Of course, to every silver lining there must be a cloud and the price rises we’re seeing do make it harder for those looking to take their first step onto the ladder."

Meanwhile, a survey by Nationwide found annual house price inflation climbed to 4.5 per cent in December, an eight-month high.

Related articles