Interesting Facts

According to figures released by the Office for National Statistics, house prices in the UK have risen 47 thousand percent since the Queen was born. (The average house price has risen from just over £600 when she was born in 1926 to £291,000 today. To put that into perspective,  a pint of milk cost the equivalent of 1.3p in 1926 and is only 42p today, a rise of 3,131%. However, if the price of milk had risen in line with property prices it would cost £612.57 a pint. 47,000% ! If only my income had increased that much.)

The annual rate of house price deflation in the UK is 4.6%. (Deflation is the opposite of inflation. The problem for a lot of people is most of their money is tied up in their house.)

Eighteen percent of all new homes built in the UK are built on residential land, up from 11% a decade ago. (Homes are springing up in people's gardens as the property boom continues. This is called "garden grabbing", where developers buy a house with a big garden, apply for planning permission to demolish the house and build either flats, or even a mini-estate in its place. Property in the UK has gone crazy, and it's not sustainable.)

At present a typical UK home costs seven times the average salary. (Government figures show that in 2000 the average cost of a home was four times annual earnings. predicts that this is set to rise again unless supply increases. By 2026 the NHPAU (the National Housing and Planning Advice Unit) estimates that the average price will be ten times yearly earnings.)