Average house prices across England and Wales have increased by nearly 300 per cent in the last 20 years, with the average sale price rising from £66,110 in 1995 to £262,847 today.
Our analysis of Land Registry ward data finds significant differences between regional and local house price growth, with the top 5 per cent of wards seeing property prices increase by 538 per cent over the last 20 years, compared to an 148 per cent rise in the 5 per cent of wards that have shown the smallest increase.
Even within regions there are substantial differences in price growth. In London alone sale price rises vary from a 938 per cent increase in Oval, Lambeth to a rise of 281 per cent in Erith, Bexley.
Only 5.5 per cent of wards now have an average sale price less than £100,000, compared to 88 per cent of all wards in 1995. Furthermore, there are now 66 wards with an average sale price over £1m (53 of which are located in London), while in 1995 just eight wards had an average sale price of more than £300,000.