House prices are now nearly a third (30%) higher on average than a previous market peak in 2007, analysis has found.
The average UK house price in June hit a record high of £230,700, Zoopla said.
In December 2020, the average UK house price was £177,300.
Property values were 5.4% higher than a year earlier.
Looking at different property types, the search for space has pushed up the average price of a house by 7.3% over the past year.
By contrast, demand for flats has failed to keep pace and, as a result, prices growth is lagging at 1.4%, Zoopla said.
Grainne Gilmore, head of research at Zoopla, said: “Demand for houses is still outstripping demand for flats.
“To a certain extent this trend will have been augmented by the stamp duty holiday, with bigger savings on offer for larger properties – typically houses.
“But underneath this, there is a continued drum-beat of demand for more space among buyers, both inside and outside, funnelling demand towards houses, resulting in stronger price growth for these properties.”
