House prices rose £28 a DAY on average in 2017, with Clevedon, Ashbourne and Tewkesbury being the biggest winners

  • Average home rose by £9,652 this year, the equivalent of £28 a day
  • Seaside resort Clevedon was the biggest winner, with values rising 11.6%
  • Worst performer was Leigh in Greater Manchester, with values falling by 4.61%
  • Overall, Britain's property market is worth £8.29trillion 

Homeowners have been 'earning' almost £30 a day by doing little more than sitting still on the property ladder, it has been revealed.

The typical British home rose in value by a total of £9,652 this year, the equivalent of £28 per day, according to new research by Zoopla.   

The seaside resort of Clevedon in North Somerset was this year's biggest winner in percentage terms, seeing house prices grow by 11.6 per cent, to reach an average value of £334,245, the property website says. 

The seaside resort of Clevedon in North Somerset saw the biggest growth in house prices this year, according to property website Zoopla

The seaside resort of Clevedon in North Somerset saw the biggest growth in house prices this year, according to property website Zoopla

This map shows the top 10 towns in the UK for property growth in the past year

This map shows the top 10 towns in the UK for property growth in the past year

TOP 10 TOWNS FOR PROPERTY PRICE GROWTH IN 2017
Ranking Town Current average value % increase in value since January 2017
1 CLEVEDON, North Somerset £334,245 11.60%
2 ASHBOURNE, Derbyshire £354,815 11.59%
3 TEWKESBURY, Gloucestershire £299,543 11.38%
4 WHITSTABLE, Kent £386,051 11.17%
5 ILKLEY, West Yorkshire £404,994 11.09%
6 KINGSTON UPON THAMES, London £742,775 10.95%
7 MARKET DRAYTON, Shropshire £257,270 10.20%
8 BELPER, Derbyshire £252,080 10.04%
9 SUDBURY, Suffolk £327,835 9.83%
10 LETCHWORTH GARDEN CITY, Hertfordshire £390,384 9.79%
Source: Zoopla   

It was followed by the market town of Ashbourne in Derbyshire at 11.59 per cent, reaching £354,815 and Tewkesbury in Gloucestershire at 11.38 per cent - climbing to an average of £299,543.

The bumper cash rewards are, of course, meaningless until homeowners sell the property and crystallize the gains.

Overall, Britain's property market is now valued at a total of £8.29trillion, marking a rise of 3.5 per cent - £280billion - since the start of the year

At the other end of the scale, the areas that had seen the biggest declines in the house price growth rates include Leigh in Greater Manchester.

It is the worst performer with values falling by an average of 4.61 per cent to £124,134.

Walton-on-Thames in Surrey is not far behind with values declining by 3.32 per cent to £630,468, and Houghton Le Spring in County Durham is third from bottom after experiencing an average decrease of 3.21 per cent, taking the average property value down to £139,714.

House prices in Tewkesbury, Gloucestershire, have risen by 11.38%, climbing to an average of £299,543

House prices in the market town of Ashbourne in Derbyshire have risen by 11.59% this year, reaching an average of £354,815

House prices in Tewkesbury, Gloucestershire, have risen 11.38%, reaching an average of £299,543.

House prices in Tewkesbury, Gloucestershire, have risen 11.38%, reaching an average of £299,543.

BOTTOM 10 TOWNS FOR PROPERTY PRICE GROWTH
Ranking Town Current average value % increase in value since January 2017
1 LEIGH, Greater Manchester £124,134 -4.61%
2 WALTON-ON-THAMES, Surrey £630,468 -3.32%
3 HOUGHTON LE SPRING, County Durham £139,714 -3.21%
4 ABERDARE, Rhondda Cynon Taff £113,975 -3.19%
5 DAVENTRY, Northamptonshire £258,016 -3.11%
6 SOUTH SHIELDS, Tyne & Wear £133,730 -2.97%
7 BRENTFORD, London £512,814 -2.93%
8 BURTON-ON-TRENT, Staffordshire £206,843 -2.85%
9 CAMBORNE, Cornwall £184,141 -2.69%
10 MORPETH, Northumberland £233,130 -2.56
Source: Zoopla   

At a regional level, Scotland saw the biggest growth in house prices during the past year, 8.44 per cent to an average of £191,915.

It is followed by England, where values have increased 3.21 per cent on average to £328,380. 

In Wales, the average home is today worth £185,378 - up 2.94 per cent since the start of the year.

The data also revealed the property-related keyword search trends in 2017, with securing space for a car being high on the agenda for house-hunters. 

The term 'garage' was the most popular term, while 'parking' rose in the rankings from fourth to second place when compared to this time last year. 

And for the first time, 'freehold' has entered the top 10 most popular search terms.

Lawrence Hall, spokesman for Zoopla, said: '2017 has been an unpredictable and varied year for the British property market, with continued uncertainty surrounding Brexit, the triggering of Article 50 in March and a hard-fought general election in June.

'However, the value of housing has proved its resilience in the face of political ambiguity, finishing the year with a solid 3.5 per cent rise – though down year-on-year from the 7.25 per cent growth rate seen in 2016.

'Though good news for homeowners, this continued growth does pose ongoing affordability challenges to those trying to get their foot on the first rung of the property ladder. 

'Recent stamp duty reforms may go some way to help, but there's more to be done in 2018 to improve the picture for first-time buyers.'

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