Property value surge: Half of our homes pay for themselves as prices soar | UK | News (Reports)

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Many houses, flats and bungalows have risen in price more than the cost of keeping them running.

The average property across England is now worth £6,220 more than this time last year.

The combination of average council tax, utility bills and maintenance over the same period is £6,047, said comparison site GetAgent.co.uk.

Average figures for upkeep are £1,818 in council tax, £1,139 on energy, £397 on water, £146 for insurance and £2,547 in maintenance.

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When looking at costs against property price rises, 43 percent of local authorities have seen the average price increases outstrip the annual cost of upkeep in that area.

Those living in the West Midlands, East Midlands, Yorkshire and the Humber and the North-west have done particularly well covering their running costs.

Most property owners in the east of England, the North-east, London and the South-west have not been so fortunate. Homeowners in the Southeast have been worst off, with house prices in the region increasing by £3,185 in the past year, while annual outgoings total £6,846.

However, the five best performers were in London, with Hammersmith and Fulham top of the table. The annual cost of upkeep on a home in the borough is £10,481, while house prices have increased by £44,525 in the past year, leaving homeowners a profit of £34,044.

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Outside of London, Sevenoaks in Kent has the largest proportion of house price appreciation left over.

Property prices have climbed by £28,685 in the past year, leaving £20,469 once the annual upkeep cost of £8,216 has been accounted for.

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