According to a recent article by Zoopla house prices have risen by £186,638 since 1955 thats a jump of 9,680%
The latest research by eMoov states that the average house price back in 1955 when Stirling Moss won the first FI British Grand Prix was £1,928. By the time James Hunt won in 1971 the average price was £12,805 and now in 2015 after Lewis Hamilton’s epic win it’s £188,566
Founder and CEO of eMoov, Russell Quirk said.
“Things have changed dramatically in the UK since Stirling Moss first made the podium in 1955, both in F1 and property. It really is mind boggling to think a property back then was under £2,000. Of course this was the equivalent to about £50,000 in today’s money, but still a darn site cheaper none the less. There was a downturn between 1991 to 1995 when prices dropped back, but in 1999 when David Coulthard won the average house price jumped right back up. And between 2000 and 2008 prices increased by 165%.”
The Land Registry House price index for May 2015
Noted that the regions with the most significant annual price increase was London and the South East with an increase of 9.1%. Wales saw an annual fall of 0.6%
The Royal Institution of Chartered Surveyors (Rics) recently announced that the supply of homes for sale, (as measured by the average number on a chartered surveyor estate agents’s books) had fallen to it’s lowest level since January 1978. Forecasting house prices to rise by 25% over the next five years.
Who can say what the price will be next time Hamilton wins at Silverstone?