UK HOUSE PRICES TREBLE IN THE LAST 20 YEARS

UK HOUSE PRICES TREBLE IN THE LAST 20 YEARS

That's according to research from the Halifax

The price of a home in the UK has more than trebled in the last 20 years, with London property jumping the highest, with increases of 239% from £157,453 to £533,437, according to new research.

An average home in the UK would have cost just £91,199 at the end of the last millennium, but today a home would cost £279,997, Halifax found.

Every region saw houses at least double in value, although residents in Northern Ireland experienced the least dramatic increase at 139%, or £97,056.

Scotland and the North of England saw the smallest increases over the period, up 172% and 185% respectively.

First-time buyers will face tough times getting onto the housing ladder, with the cost of a first home outstripping the increases seen in the average UK home.

At the end of 1999, the average first home cost £63,640, rising 264% over the period to £231,442.

Published: by Radio NewsHub
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