House prices 'climbing £30 a day'

Posted: 26 Jul 2011 14:14:53 GMT

The average house price in Britain has increased by £5,478 since January 2011.

House prices in the UK have been steadily increasing over the last six months, new research has shown.

According to findings from Zoopla.co.uk, such costs have risen by £30 a day since January, meaning the average prices have escalated by £5,478 in this time.

The value of property has swelled by 2.6 per cent across the period, with house fees currently amounting to £216,260.

According to the website, these gains are helping the market chip away at the losses suffered across the last six months of 2010, when payments dropped by 4.9 per cent or £10,876.

However, the prices have picked up again in both England and Wales, with costs in the latter country now standing at £152,576.

Growth has been more sluggish in Scotland though, with just a 1.1 per cent uptake bringing the average value to £155,927.

Nicholas Leeming, business development director at Zoopla, said: "The property market is back on the right track, with the majority of regions having clawed back some of the ground lost at the end of last year."

The industry figure added: "London is powering ahead of the pack with average values now at their highest level since January 2009."

Uncertainty regarding the future of the economy still lingers, Mr Leeming warned, noting it waits to be seen whether or not the second half of the year will carry on the upward trend witnessed in the first six-month period.

He noted the market started brightly in 2010 before beginning to fall back as the months rolled by - so it is not certain just how the remainder of 2011 is going to pan out.

The findings come as Rightmove's Housing Price Index showed property costs in the first half of July dipped for the first time this year, with new sellers lowering their asking prices by 1.6 per cent.
 

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