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TODAY'S OTHER NEWS

Up! Up! Up! UK house prices rise £11 a day … but London prices drop

British homes have increased in value by an average of £11 per day since the beginning of the year, but with huge regional variations.

The data, from Zoopla, says that for the UK as a whole £2,046 has been added to the value of the average home in the first six months of 2019.

On a regional level, the West Midlands leads the way with homes increasing by £36.58 per day or £6,695 in total since the start of the year.

The South East is close behind with values up on average £35.32 each day or £6,463 in total; the North West is in third place, up £20.39 per day or £3,731 in total.

The worst-performing region in Britain by far was London, where the average value of all housing has fallen by £71.23 per day - down a whopping £13,035 in total. 

Scotland also saw drops of £20.59 per day or £3,768 in total.

On a more local level, homeowners in Berkhamsted in Hertfordshire have seen the most value added to their properties so far in 2019, with the average home here gaining £185.11 each day in value or £33,875. 

Close behind is Reigate in Surrey, which experienced daily growth of £184.28 followed by Epping in Essex, up £178.45 per day.

Meanwhile, Leatherhead in Surrey was the worst-performing town in Britain for house prices in the first half of 2019, with the average property value falling by £89.12 in value each day. The second and third largest reductions in housing values were seen in Weybridge, also in Surrey, and Amersham in Buckinghamshire.

Within London, Notting Hill and Holland Park saw the biggest increase in the value of their properties, with an average of £141.46 being added each day (£25,888 in total). But most of London saw significant reductions. 

“The UK housing market gained £60 billion in value during the first six months of the year. An increase in the total value of housing was recorded across nine of the 11 regions analysed, with average property values in the West Midlands making the most money for homeowners” says Zoopla spokesperson Laura Howard.

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