When Was The Best Time To Buy A Property?
There’s an old adage that the ideal time to buy a home in the UK was ten years ago. And the second best moment is always now…
This is simply because UK property has traditionally performed well over the long run, and each decade of the previous 50 years confirms this argument.
That is not to argue that some areas of the UK do better (or worse) than others.
This week, I compared the various decades over the previous half-century… I believe the 2020s will undoubtedly be an intriguing decade to look back on and we are only just getting started.
Here are some of the high and low points after accounting for inflation:
> LOWEST POINT: 1990s
Over the decade, house values climbed by only 9.7%.
> LOW POINT: 2010s
Over the course of this period, the growth averaged 14.8%. Some of my least favorite investment areas actually witnessed price declines.
> HIGH POINT: 2000s
Over time, house prices increased by 66.8%.
> HIGHEST POINT: 1980s
There was a lot of deregulation in the 1980s, therefore the average UK property price rose from £66,783 in January 1980 to £127,207 at the conclusion of the decade. A rise of 90.5%.
Data source: Get Agent, ONS
