child mortarboard gbp briefcase bath coffeecup tree twitter search crosshair fax house papers sort house-pound brochure list-items notes printer video-camera video virtual-video bath bed camera floorplan heart-empty heart-filled heart-empty-thin heart-filled-thin sofa calculator compass share clock list map-pen map-pin pencil save business-card letter phone heard people pointer cross linkedin google-plus facebook arrow-right close triangle-down my-wink my-wink-thick house-circle loading-spinner bell close-circle dog link pinterest school transport wardrobe arrow-up one two three four five six seven tick

30 Years of House Prices

For anyone who’s bought or sold a property in the last few years, it will come as no great surprise to learn that house prices in the UK areclose to as high in 2014 as they’ve ever been, and have been on a gradual incline since the early 80’s. Over the last 30 years we’ve seen the average UK house price rise from under £50,000 to over £250,000, with a point just a few years ago when the average property went for over £300,000 (before the much publicised collapse of the housing market in 2007). This incredible rise in property prices is unlikely t o stop either, with average prices increasing 8.4% last year (according to the Nationwide building society), and an expected further increase of 8% in 2014 according to some forecasts. Recent figures also show that last month alone, house prices experienced their biggest monthly rise for more than four years. In our brand new infographic, we take a look at UK house prices between 1983 and 2013, as well as how these prices compare to the inflation of food prices over the years. We also examine the UK’s most expensive area – Knightsbridge and Belgravia in London:   When doing our research for the infographic, we were particularly interested by how much everyday food items would cost if they had risen in-line with house prices – most notably over £50 for a standard-sized chicken, and over £10 for four pints of milk! We also had a look at London’s (and the UK’s) most expensive area, the exclusive Knightsbridge and Belgravia. Our research found the five-year average price for a property (2008-2012) in this area to be an incredible £2,663,256, making it a haven for national and international billionaires and millionaires looking for an exclusive London home. Prices in the capital show no signs of dropping either, with an expected 22.7% rise in the prices of prime central London prices between 2014 and 2018. This continued increase in property prices – both in the capital and nationwide – has led to ministers predicting the arrival of 40-year mortgages, as rising prices prompt more homebuyers to abandon the traditional 25-year loan and adopt longer repayment terms. Whilst a ‘two generation’ mortgage may have been unthinkable even a few years ago, a cultural shift towards the comfort of extended loans coupled with ever increasing property prices could see the 40-year mortgage become the norm in the United Kingdom.

For anyone who’s bought or sold a property in the last few years, it will come as no great surprise to learn that house prices in the UK areclose to as high in 2014 as they’ve ever been, and have been on a gradual incline since the early 80’s.

Over the last 30 years we’ve seen the average UK house price rise from under £50,000 to over £250,000, with a point just a few years ago when the average property went for over £300,000 (before the much publicised collapse of the housing market in 2007).

This incredible rise in property prices is unlikely t

o stop either, with average prices increasing 8.4% last year (according to the Nationwide building society), and an expected further increase of 8% in 2014 according to some forecasts. Recent figures also show that last month alone, house prices experienced their biggest monthly rise for more than four years.

In our brand new infographic, we take a look at UK house prices between 1983 and 2013, as well as how these prices compare to the inflation of food prices over the years. We also examine the UK’s most expensive area – Knightsbridge and Belgravia in London:

30 Years of House Prices

 

When doing our research for the infographic, we were particularly interested by how much everyday food items would cost if they had risen in-line with house prices – most notably over £50 for a standard-sized chicken, and over £10 for four pints of milk!

We also had a look at London’s (and the UK’s) most expensive area, the exclusive Knightsbridge and Belgravia. Our research found the five-year average price for a property (2008-2012) in this area to be an incredible £2,663,256, making it a haven for national and international billionaires and millionaires looking for an exclusive London home.

Prices in the capital show no signs of dropping either, with an expected 22.7% rise in the prices of prime central London prices between 2014 and 2018.

This continued increase in property prices – both in the capital and nationwide – has led to ministers predicting the arrival of 40-year mortgages, as rising prices prompt more homebuyers to abandon the traditional 25-year loan and adopt longer repayment terms. Whilst a ‘two generation’ mortgage may have been unthinkable even a few years ago, a cultural shift towards the comfort of extended loans coupled with ever increasing property prices could see the 40-year mortgage become the norm in the United Kingdom.

Related posts

Fanning the flames: wood burners v open fires

Read post

October 16, 2018

Winkworth's top 5: feature staircases in homes currently for sale

Winkworth has rounded up the top properties we currently have for sale with the best feature staircases

Read post

October 16, 2018

Winkworth International offer their top tips for moving abroad

Moving abroad can be terribly exciting, but in order for the move to be successful it needs be carefully considered and planned - We offer our top tips.

Read post

October 02, 2018

Find your Local Office

Find your Local Office

Speak to people who, quite simply, love their patch and love what they do.

Get a Free Valuation

Get a Free Valuation

Thinking of selling or letting your property, or just interested to know what it is worth nowadays?