We read with interest an article in The Times at the weekend comparing the market conditions in 2008 with 2018. Knight Frank provided some interesting figures which show that despite Brexit the market is in far better shape now than it was 10 years ago.
- House prices fell by 16% a decade ago whereas prices are now 14.5% higher than they were during the previous peak in the market in 2007.
- The average UK house price in 2008 was £153,048 whereas in 2018 it was £212,281.
- The volume of UK sales in 2008 rose from 916,920 to 1,192,890 in 2018.
- 180,100 first time buyers (mortgaged) bought in 2008 compared to 222,190 in 2018.