Property prices rise 300% in 20 years

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.

 

The 20 wards which have seen the biggest property price rises 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.

The top performers outside London include Brighton and Hove, North Oxford and Cambridge, as well as a few coastal markets in Norfolk and Cornwall and prime commuter wards such as Harpenden South, Denham North and Luffield Abbey. At the other end of the scale, areas that have seen the smallest growth contain a number of wards in Blackpool and Middlesbrough.

 

Further information

Visit Savills Residential Research

 

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