The British Obsession
"House prices are not just a popular conservation topic, but a British obsession.
While it is easy to take the view that prices will keep rising in the long run, short-term sluggishness can still have a big impact on those with a pressing need to buy or sell.
Over the last 50 years, the average UK property price has risen from £9,139 in October 1974 to £292,059 as of October 2024, based on the latest Land Registry figures. That represents an average increase of more than 3,095 per cent.
If history were to repeat itself and house prices grew by the same levels over the next 50 years, that would mean the average UK home could cost over £9million in 2074."
Your thoughts?
While it is easy to take the view that prices will keep rising in the long run, short-term sluggishness can still have a big impact on those with a pressing need to buy or sell.
Over the last 50 years, the average UK property price has risen from £9,139 in October 1974 to £292,059 as of October 2024, based on the latest Land Registry figures. That represents an average increase of more than 3,095 per cent.
If history were to repeat itself and house prices grew by the same levels over the next 50 years, that would mean the average UK home could cost over £9million in 2074."
Your thoughts?
