- Average UK property prices increased £1,410 from December to January
- London properties enjoyed biggest rise in with 2.5% or £12,950 added to value
- Month-on-month increase comes despite annual plunge in prices across the UK
A new online calculator can reveal how much your property may could have gained or lost in value over the last year.
This comes as homeowners across Britain can finally see some signs of an upturn in the property market today, analysis by online estate agent Purplebricks reveals.
The biggest winners have been property owners in South Hams, Devon, where prices rose by around £47,500 (11%) in one year.The biggest losers were in Westminster where prices fell by nearly £196,000 (21%).
Average UK house prices increased 0.5% or £1,410 from December to January, making the average property now valued at £282,000, according to today’s House Price Index (HPI).
The figures, released today by the Office for National Statistics, will come as welcome news for millions of homeowners. An interactive tool has been updated to include the latest House Price Index data, released by the Office for National Statistics today.
To use the Purplebricks calculator, simply search for YOUR local area below and find out how house prices have changed over the last 12 months:
The new figures follow a miniscule rise of just £300 in the value of average UK properties from November to December last year.
London homes saw the biggest month-on-month rise, with around £2.5% or £12,950 added to the average property in the capital, now valued at £518,000.
However, the annual price change paints a very different picture, with another 3.9% drop in values in the capital, felt most sharply in the City of Westminster.
Homes in the exclusive City of Westminster lost a staggering £195,000 over the last year, with properties in the City of London shedding just over £160,000 of their value.
Kensington and Chelsea properties lost around £147,000, Hammersmith and Fulham lost nearly £80,000 and Camden properties just over £50,000 in the 12 months to January.
Average annual property prices in both England and Wales fell, with a typical house in England falling 1.5% in value to £299,000, and dropping 0.8% to £213,000 in Wales.
The North West of England was the best performing UK region, where house prices rose one per cent in the 12 months to January.
Properties in South Hams, Devon, saw the biggest increase in value, with homes rising just over £47,000 or 11% over 12 months.
Winchester homes increased more than £36,000, with East Cambridgeshire properties enjoying a boost of more than £32,000.
