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
Oval Lambeth 938,140 938%
Marylebone High Street Westminster 1,796,119 936%
Knightsbridge and Belgravia Westminster 4,103,164 892%
Queens Park Brent 1,004,388 856%
West End Westminster 2,304,491 819%
Aldersgate City of London 983,555 806%
East Dulwich Southwark 675,712 760%
Kensal Green Brent 632,751 748%
Bayswater Westminster 1,383,864 744%
St Charles Kensington & Chelsea 1,092,536 733%
Pembridge Kensington & Chelsea 1,825,291 732%
Weavers Tower Hamlets 645,721 725%
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%
Dalston Hackney 594,127 676%
Hampstead Town Camden 1,559,479 672%
Churchill Westminster 1,096,939 670%
Cathedrals Southwark 812,199 665%
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