The UK housing market has seen a more than eighteen-fold increase (1751%) in average prices since the last time voters were asked whether Britain should stay in or out of Europe, according to research by property crowdfunding platform Property Partner.
House prices in London rocket by 3200% in same period – almost twice the growth of UK average
The capital has been transformed in the past four decades attracting huge inward investment.
Compared to other investments, residential property has outperformed all other asset classes including stocks and shares* (increased 9.5 times since 1975) and gold** (up by more than 12 times).
Residential property prices in London have risen the most, rocketing by 3200% – almost double the annual UK average house price growth – since the second quarter of 1975 when Prime Minister Harold Wilson put forward a referendum on what was then known as the European Economic Community (EEC).
Today, a little more than four decades on and just over two months from the UK’s second ever European referendum (June 23), the average UK house price is now £198,564 Back in June 1975, house hunters were being asked to fork out on average £10,728 – today, in real terms, taking into account inflation, that would have been just £99,949.