UK property market increased £57 billion in 2012
London prices had major effect in reversing the £124 billion fall in 2011
Alex Johnson has been part of The Independent's online team since 2007. He has been writing about microarchitecture on his internationally-acclaimed Shedworking blog since 2006 and is the author of Shedworking: The Alternative Workplace Revolution. His latest book is Bookshelf, published by Thames & Hudson.
Friday 11 January 2013
The total value of all homes in Britain grew £57 billion during 2012, bringing the combined value of Britain’s residential property stock to £5.963 trillion at the end of December, up 0.97 per cent from £5.906 trillion at the end of 2011 according to the latest data from property website Zoopla.co.uk.
The 2012 increase in property values brings the total British market value back to the same level as at the end of 2009, following a gain of £67 billion in 2010 but a fall of £124 billion in 2011. The total market values were calculated by Zoopla.co.uk by combining the estimated current market value of every individual home in Britain.
Property values in England fared much better than Scotland and Wales during 2012, with the overall value of the residential property market in England growing by £64.8bn (1.2%), while falling by £1.2bn (-0.3%) in Scotland and by £6.6bn (-3.1%) in Wales.
Two thirds of the biggest 250 urban areas in Britain experienced increases in total property values in 2012. Among the 20 largest cities across Britain, the biggest gainers in 2012 by total increase in value were London (up £42.4 billion), Bristol (up £2.3 billion) and Edinburgh (up £922 million). The biggest value losers over 2012 were Sheffield (down £286 million), Doncaster (down £160 million) and Stoke-on-Trent (down £149 million).
Lawrence Hall of Zoopla.co.uk said: “These figures highlight the varying performance of the property market in different regions around the UK last year. While some areas saw decent growth in property values, others are still facing an uphill struggle.”
The figures show that the total value of all homes in Britain combined has risen by £1.9 trillion (46%) over the past ten years. Despite property values not rising in Scotland and Wales during 2012, they have actually outperformed property in England over the last decade with England experiencing a rise of 43% (£1.6 trillion) while Scotland has enjoyed 84% growth (£183bn) and Wales 57% growth (£74bn).
A six-bedroom terraced house with large south-facing roof terrace, cinema room and wine cellar
A new seven-bedroom home built in Queen Anne-style with swimming pool and parkland views in Mortimer
A listed, four-bedroom farmhouse in the rural hamlet of Rushall with detached barn, four acres of gardens and paddocks
A first-floor flat with two bedrooms, a spacious reception room and communal grounds in a leafy part of London
A three-bedroom flat with a spacious rootop terrace and balcony, accessed from a private gated courtyard
A Grade II-listed pile with six bedrooms, stables and 39 acres of grounds in Standlake
A two-bedroom flat with boutique hotel-style interiors, close to the foodie haunt of West End Lane
A two-bedroom flat in a beautiful old vicarage, with many original features, close to the city centre
A three-bedroom 16th-century home with an aga kitchen, private gardens and heated outdoor pool, in Hadleigh
A three-bedrom home in sought-after Queen's Gate Mews, with Italian marble-finished bathrooms
Surrounded by glorious countryside in the village of Udimore, sits this impressive four-kiln oast and barn conversion
A five-bedroom house in the picturesque village of Kettlewell, north Yorkshire
An 18th-century former coaching inn with original staircase, open fireplaces and beams throughout
A Grade II-listed Georgian town house with three bedrooms and a south-facing courtyard, near Arundel Castle
Feel on top of the world at this über chic penthouse on the 37th floor of one of Europe’s tallest blocks.
A Grade II-listed Victorian villa with six bedrooms and two further cottages, all with spectacular sea views
A grade II-listed, Georgian cottage with mature 50ft garden, perfect for summer entertaining
A magnificent Georgian pile with turrets, seven bedrooms, a heated pool and four acres of gardens
Fairoak Farm has five bedroom suites, gym, outdoor swimming pool and golf course
Chic two-bedroom river-fronted flat with a private lift that delivers you directly to your home
A spectacular seven-bedroom Tudor pile, once owned by Henry VIII, with 18 acres of land
A seven-bedroom Georgian property previously used as a picturesque wedding venue
A split-level flat in a church conversion with two en suite bedrooms and 1,200sq ft of living space
A three-bedroom bungalow situated behind an impressive stone wall, £645,000
Windsor Castle overlooks this three-bedroom Victorian cottage located on one of Windsor's smartest roads
Chapel House is a former vicarage with nine bedrooms in the beautiful Upper Wye Valley
A five-bedroom B&B and separate owner's accomodation with potential for conversion
Enjoy summer by the Thames in this two double-bedroom converted warehouse in Rotherhithe village
A one-bedroom, luxury apartment with private gym and concierge service in Moorgate
A four-bedroom house in Hermitage Gardens with three reception rooms and landscaped gardens
A seven-bedroom Grade II-listed property with a separate self-contained apartment
A five-bedroom Victorian house with three reception rooms and galleried landing, £695,000
A six-bedroom farmhouse with five acres of land in a former cloth-making village
A secluded seven-bedroom detached house with large private garden, £490,000
A three-bedroom cottage overlooking Sarratt village green with open fires and solid oak floors
A three-bedroom maisonette flat in a Grade I-listed, Georgian townhouse in a sought-after location
A one-bedroom apartment located within a private gated development, north of Turnham Green
Look forward to a brighter future at two-bedroom Sunny Cottages, ideal for Londoners looking to downsize
A three-bedroom red-brick cottage with outbuildings and pretty gardens, £200,000
This three-bedroom flat within a former textile factory spans the corner of the fourth floor and has a balcony
A charming four-bedroom Oxfordshire cottage with oak floors and chunky-beamed ceilings, £465,000
A beautiful one-bed flat in a sought-after portered block, with access to Norland Square communal gardens
A one-bedroom flat within a Sixties school conversion with high-spec design and open-plan kitchen, close to Lambeth North Tube, £435,000
A 17th century four-bedroom house, with open fireplaces, cellar and pool, £600,000
A three-bedroom, coach house with luxury open-plan living space and contemporary breakfast bar
Life & Style blogs
Daniele Watts: Django Unchained actress detained by Los Angeles police after being mistaken for a prostitute
Scottish independence referendum: A nation divided against itself
Scottish independence: David Cameron is becoming the 'George Bush of Britain'
Russia freezes Ukraine into submission: Kiev admits country doesn't have enough fuel for winter
Scottish independence: The Queen breaks silence on referendum debate – as think tank warns of £14bn black hole if Scotland votes Yes
Archbishop of Canterbury admits doubts about existence of God
- 2 Friends 20th anniversary: Alison Jackson photographs reunited cast
- 3 There is literally not a single woman in this iPhone 6 queue
- 4 Hitler’s former food taster reveals the horrors of the Wolf’s Lair
- 5 Scottish independence: Tory revolt against 'devo max' grows as Rail Minister Claire Perry joins
£30000 - £35000 per annum: Ashdown Group: Marketing Manager (CIM, B2B, MS Offi...
£22000 - £25000 per annum: Ashdown Group: A highly successful organisation wit...
£1 per day: Randstad Education Leeds: Job Purpose To work closely with the he...
£32000 - £42000 Per Annum: Clearwater People Solutions Ltd: Our client is curr...