Homeowners enjoyed substantial rise in value, shows research

0
14

Data from Zoopla shows that 60% of individuals who bought their homes within the past two decades have witnessed value increases of £65,000 or more, as house prices have surged by 78% during this period

Homeowners who have acquired their properties in the last 20 years have enjoyed a substantial rise in value averaging around a £80,000 rise, according to a new research.

Data from Zoopla shows that 60% of individuals who bought their homes within the past two decades have witnessed value increases of £65,000 or more, as house prices have surged by 78% during this period.

But it’s not necessary to have owned a property for decades to benefit from significant price appreciation.

Almost half (48%) of UK homes purchased in the last decade have seen their value increase by more than £65,000, Zoopla reports.

In southern England, properties have experienced particularly pronounced gains over the last 20 years. Around 80% of homes in areas such as the Cotswolds and Richmond-upon-Thames have increased by more than £65,000 since their last purchase, as per the research.

Izabella Lubowiecka, a senior property researcher at Zoopla, said: Millions of UK homeowners are sitting on tens of thousands of pounds in property value gains since they moved into their current home, despite recent declines in house prices.

While house prices in London have either dropped or grown modestly in recent years, certain areas such as Richmond have performed much better, she said.

In the North West, Trafford has experienced similar growth, partly due to its proximity to Manchester and its appeal to families seeking to move out of the city, she said.

For many, these significant capital gains provide essential financial support for their next home move, she said.

It comes after a separate research report from the Fairness Foundation found the wealth gap between the richest and poorest in the UK rose by around 50% in less than a decade.

New polling for the charity found three in four voters are concerned about the impact of wealth inequality in Britain.

The post Homeowners enjoyed substantial rise in value, shows research first appeared on Invest for Property London, Buy Residential property UK.
Credit: Source link

#

LEAVE A REPLY

Please enter your comment!
Please enter your name here