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UK Properties Hit a Combined Worth of £8.17tn

The total worth of property in the UK has increased by 7.35% since January, according to a new study.

Residential Property Investment

The total worth of property in the UK has increased by 7.35% since January, according to a new study.

The report, published by online property listing page Zoopla, stated that the average value of a property in the UK increased by £56.57 per day between January 1 and December 7 this year, marking a total increase of £559bn over the course of the year so far.


UK property has now reached a combined total value of £8,165,502,086,907 – or £8.17 trillion – as demand for property remains high.


The strongest growth during this period was found in the East of England, where there was an upsurge of 11.56% in property values to a new average of £358,401 in the region. This was followed by the East Midlands and the South East, where property values increased by 8.74% and 8.44% respectively.


UK Property Investment


Zoopla has highlighted a shift to commuter mentality amidst property purchasers as a key factor in the changing landscape of the current market.


Towns and cities in the commuter belt region surrounding London have experienced the largest increases, with Diss in Norfolk, just a 90-minute train journey from London Liverpool Street station, undergoing the largest growth in the UK, as property values rose by 16.2%.


Lawrence Hall, spokesperson for Zoopla, said:


‘2016 has certainly been a historic year, with the events of the past 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.’


Earlier this month, fellow property listing site, Rightmove, revealed that the UK property market is expected to continue growing in 2017, despite Brexit concerns.

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