House prices almost doubled in a decade | Money | guardian.co.uk
No wonder first-time buyers can't afford a home: house prices rose by 91% in the past decade, with the national average rising by more than £78,000, according to data released by the Halifax today.
During the same period the average salary has risen from £18,939 to £26,510 – a comparatively meagre 40% increase.
Eight of the 20 towns delivering the biggest increases were in Scotland, while only four were in the south – all in the south-west. But Penzance experienced the biggest increase in house prices since 2000 – 193% from £70,171 to £205,532 at the end of last year.
Properties in London went up the least – by 63% from an average of £153,454 to £250,720.
Alternatively, if you still need to live in the south for work reasons, you might want to go for those towns where properties have increased least in price on the grounds that they might do much better in the next boom (spurious I know, but investors seem to believe this tactic works with funds).
In this case try Swindon in Wiltshire, where the average house price is £156,006 after a 51% 10-year increase; Camberley in Surrey (£278,517 after a 47% increase); or Bracknell in Berkshire (£218,161 after a 46% increase). Or, if it has to be London, head for Twickenham, where properties have an average price of £390,238 following a 46% increase over the past 10 years.
Fill yer boots with lots of lovely Swindon property folks!
No wonder first-time buyers can't afford a home: house prices rose by 91% in the past decade, with the national average rising by more than £78,000, according to data released by the Halifax today.
During the same period the average salary has risen from £18,939 to £26,510 – a comparatively meagre 40% increase.
Eight of the 20 towns delivering the biggest increases were in Scotland, while only four were in the south – all in the south-west. But Penzance experienced the biggest increase in house prices since 2000 – 193% from £70,171 to £205,532 at the end of last year.
Properties in London went up the least – by 63% from an average of £153,454 to £250,720.
Alternatively, if you still need to live in the south for work reasons, you might want to go for those towns where properties have increased least in price on the grounds that they might do much better in the next boom (spurious I know, but investors seem to believe this tactic works with funds).
In this case try Swindon in Wiltshire, where the average house price is £156,006 after a 51% 10-year increase; Camberley in Surrey (£278,517 after a 47% increase); or Bracknell in Berkshire (£218,161 after a 46% increase). Or, if it has to be London, head for Twickenham, where properties have an average price of £390,238 following a 46% increase over the past 10 years.
Fill yer boots with lots of lovely Swindon property folks!
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