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News: House prices up 300% in 20 years

Fri, 22 Jan 16

House prices have risen almost 300 per cent in the last two decades, reveal new figures from Savills. The average sale price of homes in England and Wales have risen from £66,110 in the 1995 to £262,847, the advisorís analysis of Land Registry data shows.

The regional divide between markets remains as evident as ever over the last 20 years, with Londonís Oval seeing prices rise 938 per cent, compared to just 218 per cent in Erith, Bexley.

The top 5 per cent of wards have seen prices rise 538 per cent (from £108,032 to £689,649), while the bottom 5 per cent of seen a rise of just 148 per cent (from £46,819 to £115,954).

Lucian Cook, head of Savills UK residential research, comments: "The twenty biggest risers are dominated by central London markets, though they also include some areas that have seen substantial gentrification over the period. This includes Queens Park and Kensal Green in Brent, East Dulwich and Cathedrals in Southwark and Stoke Newington Central and Dalston in Hackney."

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