A new report, released by the Halifax has shown figures from the UK housing market from the past 50 years. The UK housing market figures make for interesting reading and show the average house price in the UK has increased by 273% in real terms from 1959.
Key findings of Halifax report
The report published by the Halifax banking group has found that house prices recorded their biggest rise in the 2000’s with a 62% rise in house prices over that period. This is marginally better than the 61% rise in house prices in the 1980’s. According to the report, in the 1990’s, house prices fell on average by 22% in real terms.
Improvements in quality of housing
The Halifax housing report has stated that the real term rise in house prices could be due to the improvements in the quality of housing now available. According to the report, housing lacking an inside toilet fell from 14% in 1960 to just 0.2% in 1996. Households without a basic hot water supply fell from 22% in 1967 to 1% in 1991 and households with central heating increased from 35% in 1971 to 92% in 2000. The improvement in central heating has created other issues such as condensation. Homes with central heating and without proper air ventilation can suffer from condensation and damp problems.
For more property news
For more property market news then visit the following web pages:
- Home reports prompt more sales
- Damp makes homes dangerous
- Damp makes property price plummet
- Bats affect property survey
Alternatively to speak to a property care expert you can contact us or call us on 0800 65 22 678.