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House prices doubled in last decade
House prices doubled in last decade
House prices doubled in last decade
This survey carried out by the Halifax reviews house price performance over the past decade. The data is sourced from the Halifax House Price Index. The Halifax House Price Index is the UK\\\\\\\\\\\\\\\'s longest running monthly house price series with data covering the whole country from January 1983 onwards.
As we begin a new decade, Halifax has looked at house price performance over the past 10 years. The noughties was a significant period for the UK housing market. Despite a fall of more than one-fifth between mid 2007 and mid 2009, house prices increased by more in real (ie inflation-adjusted) terms than in any other decade over the last 50 years.
House prices increased by 105% during the past decade, taking the UK average house price from £81,596 in 1999 quarter 4 to £167,020 in 2009 quarter 4. The national average price increased by 145% between the start of the 2000s and the peak in 2007 quarter 3. This was followed by a 21% decline over the next seven quarters. Prices subsequently increased by 6% during the final two quarters of the decade. House prices ended the 2000s at a level similar to that in 2005 quarter 3.
* Three of the four towns that delivered the largest gains during the decade are in Cornwall: Redruth (207%), Penzance and Helston.
* Wallasey in Merseyside (172%) and Wallsend in Tyne and Wear (164%) were the best performers in the north.
* Ramsgate (181%) and Southend on Sea (160%) were the best performing towns in the South East.
All ten towns recording the fastest house price growth in the 2000s are on, or close to, the coast. Greater London (80%) and the South East (85%) saw the smallest price gains over the decade
As we begin a new decade, Halifax has looked at house price performance over the past 10 years. The noughties was a significant period for the UK housing market. Despite a fall of more than one-fifth between mid 2007 and mid 2009, house prices increased by more in real (ie inflation-adjusted) terms than in any other decade over the last 50 years.
House prices increased by 105% during the past decade, taking the UK average house price from £81,596 in 1999 quarter 4 to £167,020 in 2009 quarter 4. The national average price increased by 145% between the start of the 2000s and the peak in 2007 quarter 3. This was followed by a 21% decline over the next seven quarters. Prices subsequently increased by 6% during the final two quarters of the decade. House prices ended the 2000s at a level similar to that in 2005 quarter 3.
* Three of the four towns that delivered the largest gains during the decade are in Cornwall: Redruth (207%), Penzance and Helston.
* Wallasey in Merseyside (172%) and Wallsend in Tyne and Wear (164%) were the best performers in the north.
* Ramsgate (181%) and Southend on Sea (160%) were the best performing towns in the South East.
All ten towns recording the fastest house price growth in the 2000s are on, or close to, the coast. Greater London (80%) and the South East (85%) saw the smallest price gains over the decade
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