According to Zoopla, there is a clear north-south divide when looking at average changes in value across UK homes. They found that fewer homes are gaining value in the south, likely due to the higher average property price, exaggerating the impact of higher mortgage rates on buying power.
Home values are rising fastest in northern England, with half of homes gaining £1000 – £10,000 of value in the first half of the year, and 1 million homes (14%) increased by over £10,000.
The North West was the region with the highest number of homes, growing in value by at least 1%.
The data also reveals a trend regarding the type of properties performing well. With currently elevated mortgage rates, value-for-money homes are a popular choice, with properties worth under £150,000 seeing the highest value growth (over 5%).