Jump to content
House Price Crash Forum
iamnumerate

Have house prices doubled since 1993?

Recommended Posts

According to the BBC

https://www.bbc.co.uk/sport/tennis/47953715

Quote

In the 26 years since Britain last competed in the World Group, house prices across the UK have doubled. In 1993, it cost an average of £100,969 to buy a house. In 2018, the average cost was £214,578

In London it is a lot more so I find this hard to believe, in my road it was £60-70 k in 97 and is now £350-550 k.

Share this post


Link to post
Share on other sites

No way was the average house price £100k in 1993. In the mid-90s the average house price in England and Wales was about £60k and about £68k in London (Land Registry).

Share this post


Link to post
Share on other sites
14 minutes ago, Dorkins said:

No way was the average house price £100k in 1993. In the mid-90s the average house price in England and Wales was about £60k and about £68k in London (Land Registry).

That is what I thought as well.

Share this post


Link to post
Share on other sites

south east in 93 2 bed cottage 60/70k  3 bed semi max 100k

 

so average price in the country well below that..i'd agree mid 60's when mixed in with northern prices

Share this post


Link to post
Share on other sites

in 99 i paid 178k for a 3 bed detached......3 bed semi was about 120/130...max 150k tops i would say and that was when the market was just emerging from the 90's....prices only really went up from their lows in 98/99 for the first time

Share this post


Link to post
Share on other sites

What does this have to do with tennis?

Is the point that today ordinary young people can't afford to play tennis because they have to pay so much for shelter? 

Share this post


Link to post
Share on other sites

They more than doubled for a brief moment in time, now almost doubled.....wages had been losing value as quickly as property was gaining value, for a brief moment in time.;)

Share this post


Link to post
Share on other sites
22 minutes ago, Wayward said:

What does this have to do with tennis?

Is the point that today ordinary young people can't afford to play tennis because they have to pay so much for shelter? 

It was to do with the changes since 1993 - it is not just housing.

Share this post


Link to post
Share on other sites

Admittedly not inflation adjusted, but I know someone who bought a house (in the same street as my first house) in 1993 for 40K. Those houses are now going for circa £135K, so more than tripled. Preston, Lancashire.

Share this post


Link to post
Share on other sites
9 minutes ago, dpg50000 said:

Admittedly not inflation adjusted, but I know someone who bought a house (in the same street as my first house) in 1993 for 40K. Those houses are now going for circa £135K, so more than tripled. Preston, Lancashire.

Depressingly compared to parts of London that doesn't sound so bad.

Share this post


Link to post
Share on other sites

Bought 1993 for £68K. Spent 25K on it. Current value £350K. Up five times. I'd be happy to see a 30% drop in house prices countrywide. Give the next generation a chance.

Share this post


Link to post
Share on other sites

Brought first house in 1993, Northants, 2 bed £25k

now £100-£110 so 4x round here 

but compounded against inflation eroding stagnant wages it’s certsinly a double whammy.

prices only doubled? I don’t think so

Share this post


Link to post
Share on other sites
20 hours ago, dpg50000 said:

Admittedly not inflation adjusted, but I know someone who bought a house (in the same street as my first house) in 1993 for 40K. Those houses are now going for circa £135K, so more than tripled. Preston, Lancashire.

Inflation adjusted a 40k from 93 is just over 81k today so that has gone up by less than 60% in real terms which is what matters so maybe the figures do check out!

Share this post


Link to post
Share on other sites

Have house prices doubled since 1993?

Quote

In the 26 years since Britain last competed in the World Group, house prices across the UK have doubled. In 1993, it cost an average of £100,969 to buy a house. In 2018, the average cost was £214,578

 

Roughly yes in real terms, according to the Nationwide average house prices adjusted for inflation figures:
Oh look, the same data points here!

Period 		Avg House Price 	"Real" adjusted Price 	
2018 Q2		£214,578			£214,578		
 
1993 Q4		£51,050				£100,969
1993 Q2		£51,918				£103,342		

 

Edited by DarkHorseWaits-NoMore
typo's and details

Share this post


Link to post
Share on other sites

Lots of overpriced reductions.......they are no longer going up 2% a month, it takes a bit of time for the reality to sink in.;)

Share this post


Link to post
Share on other sites
On 26/04/2019 at 12:59, Wayward said:

What does this have to do with tennis?

Is the point that today ordinary young people can't afford to play tennis because they have to pay so much for shelter? 

Exactly, young child bearing age people are being pushed down maslow's hierarchy. Not good for mental health, expect suicide to rise dramatically as basic needs are too expensive.

Share this post


Link to post
Share on other sites

The only problem with topping yourself for the above reasons is that, if reincarnation is a thing, then it's going to be EVEN SHTTR when you come back.

Share this post


Link to post
Share on other sites

 

 

7 hours ago, btd1981 said:

The only problem with topping yourself for the above reasons is that, if reincarnation is a thing, then it's going to be EVEN SHTTR when you come back.

What? You mean you come back as an Estate Agent?

Share this post


Link to post
Share on other sites
On 26/04/2019 at 18:14, azal777 said:

prices only doubled? I don’t think so

Victory Housing has always been expensive. Couples have always waited until their 30s to start a family.

A Goodthink Correctional Officer has been dispatched to your location.

Share this post


Link to post
Share on other sites
On 27/04/2019 at 13:46, byron78 said:

Presumably this is adjusted for inflation. 

Tee hee ... I don't think the beeb even understand what inflation is ... much less their wider audience.

Also: surely what is most important is what housing costs *per square foot* relative to salaries.

The generation before me (in my family at least) live on much more land paid for much sooner in their lifetimes than I can ever dream of.

Even assuming a 3 bed house in the 1980s or 1990s is comparable to a 3 bed house today is naive, too.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 295 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.