Homeowners in Britain have seen the value of their property increase by an average of £6,000 over the last year, analysis of official data revealed today.
Prices across the UK rose by a typical rate of 2.2 per cent in the year to July – hitting an average of £290,000, according to the Land Registry’s latest House Price Index.
While this was down from the 2.7 per cent rise in the year to June, prices did go up by 0.6 per cent or £1,740 from June to July – the eighth consecutive monthly rise.
Now, MailOnline can reveal an online calculator from estate agent Purplebricks showing how much a property may have gained or lost in value over the last year.
Homeowners in Scotland are the biggest winners in today’s report, with properties rising 3.1 per cent in value from June to July, worth around £6,181.
The annual increase in value in the 12 months to July was 6 per cent, meaning the average Scottish home is now inching towards the £200,000 mark, at £199,398.
Shetland islanders have the most to toast in Scotland today with the average homeowner seeing the value of their property increase by 18 per cent or £38,137 over the year.
Average properties on the remote Scottish islands are worth £210,699 according to today’s report – up from £172,562 in July last year.
House prices in England continued their steady increase, with homeowners seeing 1.6 per cent or £4,894 added to the value of their property, making the average property worth £305,879.
But the biggest winners in today’s report were homeowners in Stratford-upon-Avon, where the average property is now worth £393,171 following a 11 per cent rise in the past year worth around £41,676.
| AREA | ANNUAL % INCREASE | MONEY GAINED | // | AREA | ANNUAL % DECREASE | MONEY LOST |
|---|---|---|---|---|---|---|
| 1. Stratford-upon-Avon | 11% | £41,676 | // | 1. Kensington and Chelsea | -17% | -£192,083 |
| 2. Shetland Islands | 18% | £38,137 | // | 2. City of London | -24% | -£185,584 |
| 3. Cherwell | 10% | £36,338 | // | 3. City of Westminster | -18% | -£161,880 |
| 4. Monmouthshire | 10% | £36,279 | // | 4. Rutland | -9% | -£32,823 |
| 5. Mid Sussex | 7% | £30,442 | // | 5. Hackney | -6% | -£32,097 |
| 6. North East Derbyshire | 12% | £30,200 | // | 6. Na h-Eileanan Siar | -20% | -£26,936 |
| 7. Vale of White Horse | 7% | £29,492 | // | 7. Hammersmith and Fulham | -3% | -£22,317 |
| 8. High Peak | 10% | £28,503 | // | 8. Dover | -7% | -£20,694 |
| 9. Waverley | 5% | £27,521 | // | 9. Maldon | -5% | -£19,807 |
| 10. Greenwich | 6% | £27,394 | // | 10. Haringey | -3% | -£17,713 |
| AREA | MONTHLY % INCREASE | MONEY GAINED | // | AREA | MONTHLY % DECREASE | MONEY LOST |
|---|---|---|---|---|---|---|
| 1. Newham | 7% | £28,854 | // | 1. Kensington and Chelsea | -8% | -£89,639 |
| 2. Elmbridge | 4% | £23,776 | // | 2. City of London | -8% | -£64,418 |
| 3. Haringey | 4% | £23,427 | // | 3. Westminster | -4% | -£36,174 |
| 4. Causeway Coast and Glens | 11% | £23,273 | // | 4. Brent | -4% | -£18,473 |
| 5. Camden | 3% | £22,316 | // | 5. Adur | -5% | -£18,251 |
| 6. Greenwich | 4% | £20,089 | // | 6. Chichester | -4% | -£16,454 |
| 7. Hammersmith and Fulham | 2% | £19,129 | // | 7. Islington | -2% | -£15,067 |
| 8. South Hams | 5% | £18,890 | // | 8. Hackney | -2% | -£12,952 |
| 9. Waverley | 3% | £17,614 | // | 9. Cheltenham | -4% | -£11,650 |
| 10. Newry, Mourne and Down | 8% | £16,202 | // | 10. Tonbridge and Malling | -3% | -£11,376 |
The upward trend in house values continued in all UK regions, with the exception of London, where average prices took a tumble both monthly and annually, according to the House Price Index report.
Properties in the capital lost 0.4 per cent in value over the last year – worth around £2,387 – making the average home worth £520,747. Prices were also down 0.3 per cent from June to July.
Despite the dip in average prices, 23 London boroughs saw monthly house price rises with five among the UK’s top 10 biggest winners.
The East London borough of Newham– home of the 2012 London Olympics – was the biggest winner in the capital and the UK as prices rose 6.9 per cent from June to July, worth £28,854. The average property is now valued at £418,181.
Haringey homes saw the second biggest rise from June to July with a 4 per cent monthly increase worth £23,427. Camden properties rose 3 per cent, worth £22,316.
The £425,000 four-bedroom property in Stratford-upon-Avon is a semi detached family home
The Stratford-upon-Avon property features an open-plan living, dining and kitchen area
As for annual price rises, homes in 20 London boroughs benefited in today’s report.
| AREA | ANNUAL % DECREASE | MONEY LOST |
|---|---|---|
| 1. Kensington and Chelsea | -17% | -£192,083 |
| 2. City of London | -24% | -£185,584 |
| 3. Westminster | -18% | -£161,880 |
| 4. Hackney | -6% | -£32,097 |
| 5. Hammersmith and Fulham | -3% | -£22,317 |
| 6. Haringey | -3% | -£17,713 |
| 7. Southwark | -3% | -£16,063 |
| 8. Richmond | -2% | -£15,630 |
| 9. Sutton | -2% | -£6,352 |
| 10. Islington | -1% | -£5,479 |
Homeowners in Greenwich saw the biggest annual increase, enjoying a 6 per cent rise worth around £27,394 – making the average home worth £456,565.
In total, 13 boroughs saw annual price fall in today’s report, with the City of London suffering the biggest drop.
Homes in the capital’s financial district lost nearly a quarter of their value, dropping 24.2 per cent or £185,484 over the last year, making the average property now worth £766,878.
Westminster homes also suffered an annual drop in value. Homes in the heart of the capital lost 17.9 per cent in value, worth around £161,880, pricing the average property at £904,355.
Other big winners in today’s report were homeowners in the North East and Yorkshire and the Humber regions.
The average North East property is now worth £164,555 after gaining 3.8 per cent or £6,253 over the last year.
The £500,000 property on sale in Bicester is a detached family house with four bedrooms
The home in Bicester is located in a quiet cul-desSac and is being sold with no onward chain
And homes in Yorkshire and The Humber are now worth £214,918 after seeing a 3.7 per cent annual rise, worth £7,951.
| AREA ANNUAL % DECREASE | ANNUAL % INCREASE | MONEY GAINED |
|---|---|---|
| 1. Shetland Islands | 18% | £38,137 |
| 2. Stirling | 8% | £20,611 |
| 3. East Renfrewshire | 6% | £17,950 |
| 4. City of Edinburgh | 5% | £16,343 |
| 5. Midlothian | 7% | £15,866 |
| 6. Highland | 7% | £14,925 |
| 7. West Lothian | 7% | £14,648 |
| 8. W. Dunbartonshire | 9% | £12,790 |
| 9. Falkirk | 7% | £12,721 |
| 10. Inverclyde | 9% | £12,536 |
The average Welsh home enjoyed a £ 4,363 bump in value after a 2 per cent annual rise, making the average property now worth around £218,184.
Purplebricks chief executive Sam Mitchell said: ‘Two key ingredients for a healthy housing market – falling mortgage rates and more homes coming onto the market – are clearly increasing confidence among buyers.
‘Millions of homeowners who have bunkered down and stayed put during the last few years’ of high inflation and rate hikes are now eyeing their next house move with renewed faith.
‘We’re now seeing that long-needed movement in the market, freeing up properties and giving young people an opportunity to get that all-important first foot on the property ladder.’