Average UK home added nearly £28 per day to value in 2020

THE average UK home added £27.81 per day to its value in 2020, analysis has found.

Across the whole of 2020, this adds up to an increase of more than £10,000.

Properties in England enjoyed the highest increase in value per day, typically (£30.16), followed by Wales (£23.79), Northern Ireland (£15.23) and Scotland (£12.04), Zoopla said.

It added that the total value of housing in London passed the £2 trillion mark in 2020, now standing at £2.03 trillion. The total value of the

UK’s housing stock is now £9.06 trillion, Zoopla said.

The average London property increased in value by a substantial £19,609 in 2020.

The biggest cash increases in typical property values in London across the whole of 2020 were in Kensington and Chelsea (£49,812) and Westminster (£47,882).

Outside London, the biggest cash increases in average property values across 2020 were in Windsor (£29,063), Altrincham (£23,772), Penzance (£23,437) and St Albans (£23,410). Grainne Gilmore, head of research at Zoopla, said: “The data reflects an increased demand for additional indoor and outdoor space, and some rural locations have seen a rise in activity levels as those no longer constrained by a daily commute look for a different style of living.

“These factors, coupled with the stamp duty holiday, has led to one of the busiest Christmas housing markets in a decade, and has underpinned price rises of nearly 4% this year.”

Average cash increases in property values per day in 2020, according to Zoopla, ranked from highest:

1. London, £53.58

2. South East England, £34.29

3. South West England, £31.89

4. East of England, £27.62

5. East Midlands, £25.88

6. North West England, £24.75

7. Wales, £23.79

8. West Midlands, £23.43

9. Yorkshire / the Humber, £22.76

10. Northern Ireland, £15.23

11. North East England, £13.89

12. Scotland, £12.04