British home values up £39bn in 2009, says Zoopla

The average property value was up £4 a day in 2009, after losing £86 a day in 2008 but while England and Scotland property values rose during the last 12 months homes in Wales continued to decline in price in 2009.

So, as 2009 draws to a close, Zoopla found British homeowners have seen the value of their abodes increase by £39.1bn in 2009.

The biggest rebound, according to Zoopla, was in Gloucestershire, where prices were up 3.8 per cent this year after a 14.1 per cent drop in 2008.

Nicholas Leeming, commercial director of Zoopla, said: "2008 was undoubtedly the annus horribilis for homeowners. But, property prices have stabilised this year, rising gradually since April after a fairly weak first quarter.

"We are still a long way from the values seen before the recession took hold, but the housing market has not worsened in 2009 as some had feared and recovery signs are starting to take hold.

"With the biggest share of the UK's household wealth - 39 per cent - in property, it is far better news for homeowners this Christmas than last with their principal asset in better shape than at the start of the year."