Was your home a winner or loser in 2017?

THE average home in Britain increased in value by £ 28 a day during 2017, research found.

The residential property market is valued at a total of £8.29trillion – a rise of 3.5 per cent or £280billion since the start of the year, property website Zoopla calculated.

It analysed data from January 1 to December 12 and found average home values increased by £9,652 over the period, equating to £28 a day.

In England, average values rose by 3.21 per cent to £328,380. In Wales, a typical home is worth £185,378 – 2.94 per cent more than at the start of the year. Scotland, however, outpaced both with an average increase of 8.44 per cent over the past year to reach an average of £191,915, Zoopla found.

The North East of England was the only region where average property values were lower than in January, with a 0.35 per cent decrease.

The seaside resort of Clevedon in North Somerset was 2017’s biggest property winner, Zoopla said, with an 11.6 per cent growth in values taking the average home to £334,245.

Leigh in Greater Manchester experienced the weakest property price growth in the study. Values there fell by an average of 4.61 per cent to £124,134.

Zoopla’s analysis looked at post towns with 10,000 properties or more. Lawrence Hall, a spokesman for the company, said: ‘2017 has been an unpredictable and varied year for the British property market.

‘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.’