East Anglia sets the pace in property price rises

A survey from UK property site Zoopla has shown East Anglia recording the greatest rise in house prices during 2016, with the area’s average totalling over £358,000.

Property averages in UK 2016
East Anglia recorded Britain's biggest regional rise in house prices over the course of 2016, according to a survey published on Tuesday by property website Zoopla.The region saw house prices rise 11.56 per cent during the year, bringing the average in the area to more than £358,000. Diss in Norfolk saw the highest rise in home prices of any town in the UK, the average increasing 16.2 per cent to end the year on almost £306,000.By comparison, London prices rose by only 5.12 per cent although, because of the high starting point after two years of double digit rises, the average of £680,593 was by far the country's highest.Across Britain as a whole, Zoopla said the average home had increased in value by £19,348 between January and early December. England saw the biggest increase, with 7.59 per cent growth bringing the average to £325,575, while Scotland had recorded a 5.56 per cent rise to an average of £185,355. Prices in Wales grew 3.8 per cent over the year to an average of £179,074.After Diss, the town with the second highest jump in property values was Leatherhead in Surrey where property values rose by 14.7 per cent to £833,631. Following close behind, was Southall, west London, where property prices have climbed by 14.55 per cent since the start of the year to a £382,153 average.

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At the other end of the spectrum, Aberdeen – a town whose fortunes are so dependent on the oil market – proved to be Britain’s worst-performing town with a negative price growth of 2.83 per cent, while Llandudno in Wales saw average price falls of 2.38 per cent.Lawrence Hall, head of communications at Zoopla, said, "2016 has certainly been an historic year with the events of the last six months giving rise to potential political uncertainty. However, the property market – it seems – remains resilient and property values across Britain have continued to grow.""As city centre living becomes increasingly less affordable, our figures show significant increases in property values of commuter towns; those around the capital feature heavily in the top performers list."Towns such as Leatherhead and Diss, which offer commuting times to London of less than an hour and 90 minutes respectively, have proved particularly desirable."Zoopla's study also showed the word 'garden' was the most searched term by people using its website, followed by 'garage'.

Regional average prices in England (annual increase in brackets):

East Anglia, £358,401 (11.56%)West Midlands, £220,993 (8.74%)South East England, £411,736 (8.44%)South West England, £297,054 (7.88%)North West England, £190,005 (7.57%)East Midlands, £209,183 (7.42%)Yorkshire and the Humber, £173,362 (5.58%)London, £680,593 (5.12%)North East England, £187,683 (2.41%)

Top 10 towns' average December values (annual increase in brackets):

Diss, Norfolk, £305,896 (16.2%)Leatherhead, Surrey, £833,631 (14.7%)Southall, London, £382,153 (14.55%)Crook, County Durham, £121,949 (14.45%)Seaford, East Sussex, £351,888 (14.29%)Woodford Green, Essex, £616,925 (14.28%)Chippenham, Wiltshire, £338,102 (14.14%)Northwood, London, £915,207 (14.13%)Shoreham-by-Sea, West Sussex, £387,248 (13.8%)Upminster, Essex, £552,561 (13.77%)

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