House prices are continuing to rise in Stoke-on-Trent. Latest Zoopla data for the first half of 2024 shows property prices have risen by £4,600 in the city compared with January 2024 – with the average house price now standing at £191,000.
The £4,600 increase places Stoke-on-Trent seventh in the list of areas across the UK where properties have increased in value.
Owners of terraced homes, in particular, are typically seeing more gains than owners of other property types – which Zoopla said has been driven by the popularity of ‘value-for-money’ homes among buyers facing higher mortgage costs.
Zoopla generates value estimates for nearly 30 million UK homes each month, using a combination of local sold and asking prices to give an indicative home value. Its data indicates that although around half of UK homes have increased in value in the first half of 2024, most of the gains were relatively modest.
Izabella Lubowiecka, a senior property researcher at Zoopla said: “Growing buyer confidence and a rising volume of transactions in the first half of 2024 are translating into firmer home values. Half of UK homeowners registered value increases this year – the highest proportion since December 2022. For many homeowners, equity gains are an important part of unlocking their next home move.”
Here are the locations with the biggest proportions of homes increasing in value between January and June, according to Zoopla. The figures show the average house price followed by the average change over the past six months in percentage and cash terms, and the percentage of homes increasing in value by at least 1%:
1. Oldham, £176,400, 3.9%, £7,100, 83%
2. Wakefield, £183,400, 2.9%, £4,700, 77%
3. Durham, £130,500, 4.2%, £4,700, 76%
4. West Central London, £888,300, 2.2%, £17,700, 72%
5. Darlington, £156,800, 3.1%, £4,400, 71%
6. Watford, £497,000, 2.3%, £10,900, 70%
=7. Bradford, £171,300, 2.7%, £4,500, 69%
=7. Stoke-on-Trent, £191,000, 2.6%, £4,600, 69%
=7. Wigan, £168,900, 2.6%, £3,900, 69%
10. Bath, £333,500, 2.0%, £6,300, 68%
Here are the locations with the biggest proportions of homes reducing in value in January to June 2024, according to Zoopla:
1. Dumfries, £142,800, minus 1.7%, minus £2,100, 54%
2. St Albans, £519,100, minus 1%, minus £4,500, 49%
=3. Dorchester, £340,100, minus 0.6%, minus £1,500, 44%
=3. Colchester, £314,900, minus 0.6%, minus £1,700, 44%
=3. Perth, £206,700, minus 0.1%, minus £200, 44%
=6. Milton Keynes, £338,800, minus 0.5%, minus £1,800, 42%
=6. Harrogate, £325,300, minus 0.5%, minus £1,400, 42%
=8. Exeter, £324,600, minus 0.5%, minus £1,600, 41%
=8. Ipswich, £295,200, minus 0.6%, minus £1,600, 41%
=8. Galashiels (prices rose in this location overall but it still had a relatively high percentage of homes with house falls), £181,600, 0.9%, £900, 41%