The value of the average home in Britain has risen by £3,373 (1.5%) over the last year, according to new research from Zoopla.co.uk.
The property website said the average home value across the country is now £226,369, down £609 from three months ago.
The rise in property values over the past year was seen in all but three regions of Britain. The three regions to see an annual fall were the North West, (down 2.5%), Wales (down 1.4%) and Yorkshire and The Humber (down 0.55%).
Property prices in London have continued to rise at a far faster pace than the rest of Britain over the past 12 months. The average property value in the capital rose by £30,259 (7.3%) over the past year whilst the South East saw a 3.4% increase in average values.
“It’s been a relatively flat but stable year for house prices with most parts of the country seeing modest growth,” said Lawrence Hall of Zoopla.co.uk.
“London, however, continues to pull away from the rest of the market and has experienced strong growth again over the past year.”
AVERAGE PROPERTY VALUES IN BRITAIN BY REGION
| Region |
Avg. today |
Avg. 12m ago |
£ Change |
% Change |
| London |
£444,393 |
£414,134 |
£30,259 |
7.31% |
| South East England |
£290,092 |
£280,634 |
£9,458 |
3.37% |
| North East England |
£158,974 |
£154,931 |
£4,043 |
2.61% |
| South West England |
£231,150 |
£225,586 |
£5,564 |
2.47% |
| East of England |
£240,485 |
£240,351 |
£134 |
0.06% |
| East Midlands |
£162,268 |
£159,343 |
£2,925 |
1.84% |
| West Midlands |
£172,719 |
£171,038 |
£1,681 |
0.98% |
| Yorkshire and The Humber |
£143,363 |
£144,037 |
-£674 |
-0.47% |
| North West England |
£154,503 |
£158,506 |
-£4,003 |
-2.53% |
| Wales |
£154,767 |
£156,101 |
-£1,334 |
-0.85% |
| Scotland |
£163,076 |
£162,069 |
£1,007 |
0.62% |
Source: Zoopla.co.uk, October 2012
BEST PERFORMING CITIES IN BRITAIN OVER LAST 12 MONTHS
|
Rank |
Location |
Avg. value October 2012 |
Avg. value October 2011 |
£ Change |
% Change |
|
1 |
London |
£444,393 |
£414,134 |
£30,259 |
7.31% |
|
2 |
Wolverhampton |
£157,884 |
£150,254 |
£7,630 |
5.08% |
|
3 |
Coventry |
£150,343 |
£143,934 |
£6,409 |
4.45% |
|
4 |
Bournemouth |
£228,054 |
£220,177 |
£7,877 |
3.58% |
|
5 |
Bedford |
£225,113 |
£217,344 |
£7,769 |
3.57% |
|
6 |
Milton Keynes |
£214,217 |
£207,137 |
£7,080 |
3.42% |
|
7 |
Derby |
£157,561 |
£152,413 |
£5,148 |
3.38% |
|
8 |
Sheffield |
£155,508 |
£150,460 |
£5,048 |
3.36% |
|
9 |
Reading |
£296,354 |
£287,712 |
£8,642 |
3.00% |
|
10 |
Colchester |
£220,019 |
£214,406 |
£5,613 |
2.62% |
Source: Zoopla.co.uk, October 2012
WORST PERFORMING CITIES IN BRITAIN OVER LAST 12 MONTHS
|
Rank |
Location |
Avg. value October 2012 |
Avg. value October 2011 |
£ Change |
% Change |
|
1 |
Peterborough |
£161,974 |
£167,725 |
-£5,751 |
-3.43% |
|
2 |
Aberdeen |
£206,769 |
£213,951 |
-£7,182 |
-3.36% |
|
3 |
Wigan |
£128,993 |
£132,883 |
-£3,890 |
-2.93% |
|
4 |
Walsall |
£142,817 |
£145,994 |
-£3,177 |
-2.18% |
|
5 |
Swansea |
£145,933 |
£148,814 |
-£2,881 |
-1.94% |
|
6 |
Barnsley |
£118,358 |
£120,638 |
-£2,280 |
-1.89% |
|
7 |
Preston |
£158,718 |
£161,363 |
-£2,645 |
-1.64% |
|
8 |
Liverpool |
£134,656 |
£136,843 |
-£2,187 |
-1.60% |
|
9 |
York |
£218,800 |
£222,211 |
-£3,411 |
-1.54% |
|
10 |
Doncaster |
£128,511 |
£130,455 |
-£1,944 |
-1.49% |
Source: Zoopla.co.uk, October 2012