UK housing prices up 50 percent in last 10 years
According to a report released by Housesimple on Thursday; With the increasing demand for private homes in the UK, the prices of property-type houses have increased by 50% in the last decade.
In January 2009, the average price of a detached house in England was £ 252,473 (US $ 330,418). This rate has changed over the last 10 years. As of January 2019, house prices in the UK increased by 50 percent to £ 377,945.
“Detached houses are seen by many as not just aspirational but also their forever home,” Sam Mitchell, CEO of Housesimple, said in the report. “However, our research seems to support the view that while many aspire to own a detached property, the reality is that affordability is a barrier to ownership.”
The highest increase in the price of individual houses was announced as Pricey London. The number of private house prices has been recorded as the highest in the UK since 2009.
“A better quality of life isn’t just about moving out of polluted city centres, it’s also about a better family life at home. And more space, bigger gardens, not being able to hear your neighbors through the paper thin walls, make detached living highly desirable,” Mr. Mitchell said.
“The availability of substantial detached homes that are still affordable, is one of the reasons why we’re seeing more people moving north to areas such as Yorkshire and the North West,” he added.
The price of a detached house in two regions increased by 31.3 percent and 27 percent respectively in the last decade.
However, since January 2009, only 7.7 percent of private property values have been recorded in the North East.
Sevdenur Demir / [email protected]