The combined value of UK homes climbed 57bn pounds last year, according to data from property website Zoopla.co.uk.

Britain's residential property stock stood at £5.963trn at the end of December, up 0.97% from £5.906trn the previous year.

The sector faced a tough market in 2011 as the valued dropped £124bn.

Values last year were back to the same level as 2009, signalling a positive shift in the industry.

However last year's gain failed to reach 2007's heights, with current levels still down 10%.

England was responsible for driving results higher with the overall value of residential property growing by £64.8bn.

London house price rises accounted for the bulk of the increase, where combined stocks went up by £42.4bn, or two thirds of the national total. Bristol was also a big contributor to England's performance as stock rose by £2.3bn.

Scotland and Wales, on the other hand, fell by £1.2bn and £6.6bn respectively. Scottish city Edinburgh, however, saw an £922m increase in house prices.

Two thirds of the largest 250 urban areas in Britain experienced a rise in total property values in 2012.

"These figures highlight the varying performance of the property market in different regions around the UK last year. While some areas saw decent growth in property values, others are still facing an uphill struggle," Lawrence Hall of Zoopla.co.uk, said in a statement.

"Even with the worst economic downturn in living memory over the past few years, the value of Britain's housing stock has grown a staggering amount over the last ten years. It's hard to see if we will experience the same levels of year-on-year growth witnessed in the early noughties, but with overall values beginning to creep back up, home owners should be feeling a little more confident."

RD

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