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Britain's housing stock worth £7.76 trillion at the end of 2015

30th December 2015

  • Britain’s 28.6 million homes grew in value by nearly £1.4 billion per day during 2015
  • Brentford and West Drayton are areas with largest increases in 2015 (24% and 17%)
  • But Wales is the region with the lowest price gains over the past 12 months, at 2.2%
  • Edinburgh, Bristol and Glasgow amongst top online property searches in 2015
  • As the end of 2015 approaches, property website Zoopla can reveal that the country’s 28.6 million homes are now worth a combined £7.76 trillion (£7,764,650,690,201) — with the total residential stock value rising £519 billion (7.2%) in the past year.

    The average British property is now worth £290,827 and has risen in value by more than £20,000 (7.4%) on average in 2015 - marking a bigger increase year-on-year than 2014 (6.9%).

    Homeowners in London have seen the highest price growth in 2015 of any region, with an 11.8% annual uplift. The East of England follows closely with an 11.6% rise – up from 9.6% during 2014. However, property owners in Wales and Scotland saw the lowest growth in house prices in the last 12 months, with values rising just 2.2% and 2.7% respectively.

    Brentford in London is the UK town finishing the year with the greatest increase in property prices, with values increasing by nearly 24% in 2015. West Drayton and Thame in Oxfordshire also experienced strong growth over the past 12 months, with both localities adding 17% on average to their house prices to round out the top three towns.

    London, Edinburgh, and Bristol were the top three most searched-for locations by British house-hunters on Zoopla in 2015. Northern areas also performed well, with Glasgow rising in the rankings – moving from sixth place in 2014 to fourth place this year – while Leeds broke into the top 10, coming in eighth.

    Zoopla can also reveal what crucial criteria house-hunters using the property portal have been searching for in 2015. Amongst the most popular keyword searches over the past year were ‘bungalow’, ‘cottage’ and ‘village’, with aspirational property perusers also searching for homes offering a ‘pool’ and a ‘sea view.’

    Lawrence Hall of Zoopla commented: “Whilst the property market typically slows at this time of the year, prices have performed well in 2015 with some standout towns such as Brentford faring particularly well. 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. But with Government Help to Buys schemes still in place and the promise of new homes to ease demand both buyers and sellers should have at least some reason to be upbeat as we go into 2016.”

    Regional change over the past 12 months

    Rank Region Avg. value Dec-15 Avg. value? Dec-14 £ change % change
    1 London £655,305 £585,175 £70,130 11.8%
    2 East of England £324,425 £290,348 £34,077 11.6%
    3 South East England £380,490 £349,207 £31,283 8.8%
    4 South West England £280,268 £259,009 £21,259 8.1%
    5 East Midlands £197,536 £186,920 £10,616 5.6%
    6 North West England £183,597 £173,764 £9,833 5.6%
    7 West Midlands £206,876 £196,794 £10,082 5.1%
    8 Yorkshire and The Humber £167,597 £162,179 £5,418 3.3%
    9 North East England £183,931 £179,204 £4,727 2.7%
    10 Scotland £180,719 £175,975 £4,744 2.7%
    11 Wales £174,669 £170,611 £4,058 2.2%

    Best performing towns 2015

    Rank Town Avg. value Dec 2015 Avg. value Dec 2014 £ Change % Change
    1 Brentford, London £508,840 £410,653 £98,187 23.9%
    2 West Drayton, London £335,947 £287,627 £48,320 16.8%
    3 Thame, Oxfordshire £421,975 £362,505 £59,470 16.4%
    4 Lymm, Cheshire £382,535 £329,344 £53,191 16.2%
    5 Bedlington, Northumberland £155,099 £134,581 £20,518 15.3%
    6 Sheringham, Norfolk £261,957 £227,404 £34,553 15.2%
    7 Princes Risborough, Buckinghamshire £569,196 £495,871 £73,325 14.8%
    8 Faversham, Kent £299,251 £261,464 £37,787 14.5%
    9 Bishop Auckland, County Durham £129,143 £113,010 £16,133 14.3%
    10 Woodford Green, Essex £554,376 £485,620 £68,756 14.2%
    Source: Zoopla 2015

    - Ends -

    For further information, please contact PR Team on pr@zoopla.co.uk or +44 (0)20 3873 8770.

    About Zoopla

    Hello. We're Zoopla. A property website and app.

    We know you're not just looking for a place to live. You're looking for a home.

    Yeah, we've got over a million properties for you to browse.

    Tools that let you filter them in all kinds of clever ways.

    And reliable house price estimates, so you can be sure you aren't paying over the odds.

    But we know you're looking for more than that.

    Because that first flat won't just be a 'great investment opportunity'.

    It'll be the feeling of starting out on your own.

    That extra bedroom won't just mean another £20K on the re-sale price, it'll mean having your sister over to stay.

    And that bungalow won't just be a way to release some equity, it will be a chance to spend more time with the grandkids.

    We know that searching for a home is about more than just checking its price, location and features (important as all those things are).

    What really matters is how it makes you feel.

    We know what a home is really worth.

    So let us help you find yours.

    Zoopla is part of Zoopla Limited which was founded in 2007.

    Zoopla Limited, The Cooperage, 5 Copper Row, London, SE1 2LH
    Registered in England and Wales with Company No. 09005884
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