The research delves back into January 2010, when the average UK house price was £167,469, and climbed to £231,792 by the end of the decade at a 38.4% increase. However, after adjusting for inflation, the rate of house price growth recorded between January 2010 and December 2019 sits at around 14.8%, which was the second lowest rate of house price growth in any of the past five decades.
In fact, it’s only been the 90s, when the market has posted the worst performance, with house prices increasing by just 9.7% after adjusting for inflation.
The noughties was by no means, a bad decade for homebuyers, but it still ranks just third where inflation-adjusted house price growth is concerned, with the average UK house price rising by a notable 66.8%.
The research placed the 70’s in second place of the ranking, with house prices climbing by 69.8% after adjusting for inflation, leaving the 80’s to be crowned the best decade to have bought a home.
After adjusting for inflation, the average UK house price was just £66,783 back in January 1980. By the end of the decade, the cost of buying bricks and mortar had climbed to £127,207, a 90.5% increase.
Colby Short, Co-founder and CEO of GetAgent.co.uk, commented: “There’s plenty of reasons why we may argue one decade was better than the rest, but when it comes to house price appreciation, the eighties takes it by some margin.”
“Even after adjusting for inflation, today’s generation of homebuyers may well find it unfathomable that the average home cost just shy of £67,000 back in 1980. So, while today’s buyers have had to contend with some of the lowest levels of housing affordability in history, they may well spare a thought for those who saw the cost of buying increase at such an alarming rate during their lifetime.”
Find out below why Durrants is different and how we are the perfect fit when it comes to selling your home.
To receive our regular interactive magazine and property alerts and news please sign up to our newsletter. You can find the link at the very bottom of this page.
