The areas that saw the biggest house price jumps and drops revealed
The North West had the highest proportion of homes registering larger value increases of 5% or more
The areas of the UK that saw the biggest concentrations of house price jumps and drops has been revealed.
Around one in 10 homes across Britain increased by 5% or more in value last year, despite the tough property market, according to research.
Despite high mortgage rates and the continued pressure on living costs, Zoopla estimated that around one in five (21%) properties held their value last year, with no significant change.
A further 25% of homes are estimated to have gained between 1% to 5% in value last year, while 10% gained 5% or more.
Nearly a third (31%) are estimated to have lost between 1% and 5% of their value, while one in seven (13%) lost 5% or more.
Homeowners who saw their property increase in value in 2023 had an average rise of £7,800 – or around £21 per day, Zoopla said.
It made the calculations by comparing value estimates for UK homes in December 2022 to those in December 2023.
England’s North West had the highest proportion of homes registering larger value increases of 5% or more, at 17%. It was closely followed by Scotland, with 16% of homes there seeing value increases of 5% or more in 2023.
Zoopla expects house prices to fall by 2% in 2024 across the UK, but exactly how this affects individual UK homeowners will depend on the location, it said.
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