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Value of Homes Rise by £21 a Day

The value of homes in Great Britain increased by £21.07 a day on average during the first six months of 2016, according to recently published figures.

This increase takes the average property value to £290,725, up 1.29% (£3,847) compared to January of this year.

The figures, from property website Zoopla, show that the North West, Yorkshire and Humber and the East of England saw the biggest rises in value terms over the first half of 2016, increasing by 3.24% (£5,632) 2.63% (£4,238) and 2.40% (£7,706) respectively.

However, Scotland, South West England and London fared slightly less well, with values in Scotland declining by 0.76% (£1,368), dipping in South West England by 0.34% (£934) and only increasing by 0.09% (£601) in London.

Huddersfield was the biggest winner in the first half of the year in terms of value rises, registering an average property value growth rate of 4.71% (£7,530). The Yorkshire town was closely followed by Coventry which saw a 3.46% increase (£6,122) on the average property value, and York where properties increased by 3.4% (£9,006).

At the other end of the scale, Aberdeen, Plymouth and Newcastle upon Tyne apparently dropped the most in value, where the average property lost 2.6% (£5,904), 1.84% (£3,571) and 1.82% (£3,623) respectively.

Perhaps unsurprisingly, London is the most sought after location to buy or rent so far this year, based on search data, closely followed by Greater Manchester and West Yorkshire. Scotland’s two biggest cities also appeared in the list of top ten locations searched for, with Edinburgh appearing at number five and Glasgow at number eight.

Interestingly, the keyword search data found Brits are clearly looking for properties with plenty of external space. The most popular searches in the first half of the year were ‘garden’, ‘garage’ and ‘detached’ while ‘acres’ came in ninth place.

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