Property Value Growth of 6.79% in 12 Months to April 2015
- On average, across England & Wales, property value growth in the 12 months to April 2015 is 6.79%. This shows little change to the 12 month period to March 2015 of 6.82%.
- The estimated average value of all properties is £269,914 which is 2.64% less than the peak of £277,232 in September 2014.
- The top 10 areas (Local Government Districts) for growth are all within the Greater London area with Hackney London Borough leading the way with an annual increase of 17.22%.
- However, the boroughs of Lambeth, City of Westminster and Kensington & Chelsea are all showing flat or slightly negative growth over the last 12 months.
- Many areas in Greater London have estimated values below a peak set in the summer of 2014 while areas just outside of Greater London tend to be at a peak now.
- Slight negative growth is also seen in the North West of England around Burnley and the surrounding areas.
- Generally, strong growth is also seen in areas spreading away from London.
- However, Harrogate bucks the North/South divide with an estimated growth of over 10.5%.
You can see estimated current values and growth for where you live by entering your postcode or the area where you live here:
Based on property sale values up to and including April 2015, property values have increased on average by 6.79% across England & Wales in the last 12 months. There continues to be a strong bias of greater property value growth in and around Greater London and our research continues to show that the strongest growth is starting to spread away from London.
As is expected, areas with the highest estimated values are in and around Greater London. Other areas with strong values include along the South coast of England, Harrogate, Rutland and the Derbyshire Dales. Kensington & Chelsea London Borough has the highest estimated average value which is in excess of £2m.
This month, our research has also focussed on when values have reached a peak. Across much of Wales and the West & North of England, values hit their peak back in late 2007/early 2008. In all other areas, a peak has been hit since the spring of last year. Interestingly, values in much of Central London are now behind a peak set last year while many areas surrounding Central London are at a peak now.
You can see the current price change for where you live by entering your postcode or area here:
About the Data & Methodology
Source data for house price transactions is obtained from the Land Registry and is licenced under the Open Government Licence V2.0. All data used in the research for this article has been calculated using algorithms designed by LocationCounts © 2015. Data up to and including April 2015.
The Estimated Average Price for each area (Local Government District) is based on the sold price of every property sold in the area since Jan 1995 with an index applied to estimate the current value.
The Price Change for each area (Local Government District) is based on the average price change for all Postcodes contained within that area. The average price change for each Postcode is based on the closest sales each month to that Postcode weighted by the proximity to the Postcode itself.
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