House prices are on the rise across the UK, with northern areas seeing the biggest jumps. According to property experts Zoopla, 15 million homes in the UK have gone up in value in the first half of this year. That’s half of all the homes in the country!
So, how much has your house gone up?
The average increase is a tidy £2,400, bumping the average UK house price to £278,000. Even better news – a third of homes have shot up by a much bigger £5,000 or more!
Where are the house price hotspots?
Yorkshire and the Humber and the North East are the places to be, with price rises of 1.4% and 1.9% respectively. Fancy a bargain? Homes under £150,000 in these areas have seen increases of over 5%!
Top towns for house price rises:
- Oldham: A massive 83% of homes have gone up in value
- Wakefield: 77% of lucky homeowners saw increases
- Co. Durham: Not far behind with 76% of homes increasing
Why are prices rising?
It seems buyers are snapping up more affordable homes, particularly terraced houses. And with more buyers comes higher demand – and higher prices!
What about the rest of the UK?
While things are a bit slower in southern England, there are still pockets of good news. In posh areas like West-Central London, Watford and Bath, a lucky 70% of homes have seen increases of £5,000 or more.
Is now a good time to sell?
Property expert Izabella Lubowiecka from Zoopla says: “More people are buying and selling, and that means house prices are going up. Lots of people are seeing their homes increase in value, which is great news if you’re thinking of selling.”
So there you have it – the property market is looking brighter!