New research reveals that a seaside town that is located in Somerset is the biggest winner from increases the prices of property in 2017, growing over 10 percent since January.
Homes in Cleveland increased in terms of value by 11.6 percent, which is more than any other place in the United Kingdom and ahead of the average growth of 3.5 percent across the country – the equivalent of £28 per day or £9,652 every year.
According to the newest figures from Zoopla, Ashbourne in Derbyshire, was close behind where homes were the prices were 11.59 percent higher compared to January, while Tewkesbury in Gloucestershire was closely the third.
Kingston Upon Thames was the sole London borough to be featured in the top ten, where prices of property rose by 10.95 percent and making the average home that is worth £742,775, the priciest location on the said list.
In total, it is calculated that the total value of the property market of the United Kingdom grew by £280bn this year, making it worth £8.29 trillion.
Lawrence Hall, a spokesperson for Zoopla, stated: “2017 has been an unpredictable and varied year for the British property market, with continued uncertainty surrounding Brexit, the triggering of Article 50 in March and a hard-fought general election in June.
“However, the value of housing has proved its resilience in the face of political ambiguity, finishing the year with a solid 3.5% rise – though down year-on-year from the 7.25% growth rate seen in 2016.”