130% property price increase over past 10 years

Recent research by Halifax plc shows average property prices in Yorkshire & Humber increased more than in any other region over the past decade.

Despite a fall of more than one-fifth between mid 2007 and mid 2009, house prices actually increased by more in real (i.e. inflation adjusted) terms than in any other decade over the last 50 years.

Based on standardised house price indices, Yorkshire and the Humber recorded the biggest rise in prices during the 2000s with a 130% change.

Regional House Prices in the 2000s

Average Price £ % change
1999 Quarter 4

2009 Quarter 4

North 56,290 123,746 120%
Yorkshire & Humber 55,574 127,852 130%
North West 60,612 128,506 112%
East Midlands 66,562 136,032 104%
West Midlands 74,635 154,053 106%
East Anglia 77,466 163,334 111%
Wales 61,973 137,316 122%
South West 88,718 186,124 110%
South East 121,495 224,991 85%
Greater London 142,233 255,473 80%
Northern Ireland 64,474 128,259 99%
Scotland 63,809 123,805 94%
UK 81,596 167,020 105%

Source: Halifax

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2 responses to “130% property price increase over past 10 years

  1. Hi,

    Although the figures shown, I accept are genuine, I can’t beleive it has gone up by on average 100% over 10years.
    Does this mean that a house costing £100,00 to-day will sell at £200,00 in ten years time?
    Wiil our salaries have gone up by that amount?

    I bought my house 20 years ago for approximately £18,000. To-0day its value, judging from sale of similar properties, is approx £120,00. (with no wow factor improvents). Ths is more than 100~% in ten years. If I were to sell the property and buy a retirement bunglow, I would still need to use the best part of the £100,00.

    Please Clarify.

    Regards

    Sam Ezekiel

    • What do you mean “please clarify” … ?

      We don’t know what will happen to your salary or house value over the next ten years. There is at least as much chance that we will all be living in something akin to the Stone Age or, at best, an economy that resembles present day Cuba’s. Thank vested interests behind global banks/people’s personal greed/powerless politicians (delete as appropriate) for that perhaps.

      Are you really sure about these figures you supplied … “£120,00”, etc? … If they are correct, you do seem to have lost an awful lot of money.

      You’re certainly right that any average rise in property values is potentially meaningless if seeking to move to another property. Bungalows certainly are expensive when compared to many other forms of housing – but there will be regional variations in price that may help or hinder …

      Thanks for your comment.

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