10 Feb 10.02.2016 House prices jump 300% in 20 years in the UK
10.02.2016 House prices jump 300% in 20 years in the UK
House prices have risen 300 per cent in the past 20 years, new research claims. The average value of a home in Britain was just £66,110 in 1995, but has climbed to £262,847, according to the research by estate agents. It means prices have risen £200,000 or the equivalent of £10,000 a year. Analysts have produced a forecast for the next five years – and it suggests values will be 17 per cent higher than today.
There are significant regional variations, with the top five areas seeing values increase a massive 538 per cent surge in the past 20 years, from £108,032 to £689,649. By contrast, the bottom five areas saw house prices rise by 148 per cent during the same period, from £46,819 in 1995 to £119,954 to 2015.
The 20 biggest risers are dominated by central London markets, though they also include some areas that have seen substantial gentrification over the period. This includes Queens Park and Kensal Green in Brent, East Dulwich and Cathedrals in Southwark and Stoke Newington Central and Dalston in Hackney. Currently, there are few areas in London overcoming gentrifications where the highest raises in price are expected within the period of 5 years.
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20 AREAS IN LONDON WITH THE BIGGEST RISES IN HOUSE PRICES
|Ward||Local Authority||2015 Value||20 year change|
|Marylebone High Street||Westminster||1,796,119||936%|
|Knightsbridge and Belgravia||Westminster||4,103,164||892%|
|Aldersgate||City of London||983,555||806%|
|St Charles||Kensington & Chelsea||1,092,536||733%|
|Pembridge||Kensington & Chelsea||1,825,291||732%|
|Bryanston & Dorset Square||Westminster||1,365,182||722%|
|Brompton||Kensington & Chelsea||2,736,264||702%|
|Frognal and Fitzjohns||Camden||1,849,546||698%|
|Stoke Newington Central||Hackney||692,882||683%|