Current House Prices at 2004 Level?

A recent article made interesting reading and is both subjective, debatable and like many statistics can be disputed, but it’s still interesting.

The article reads “UK house prices are at the same level as a decade ago once London homes are stripped out, according to new research.

The average property value recorded by monthly Land Registry figures stands at £177,299, but with Greater London removed the figure across England and Wales stands at just £133,538.

This is in line with the £133,126 level seen in July 2004 and should dispel fears of a new national house price bubble, claims analysis by property investment specialist London Central Portfolio”.

We all know London experiences the extremes of most markets and distorts many UK statistics but it is not a market we actively work in so the extreme high and lows can be avoided.

In 2004 I moved from being an Ops Director of an estate agency group to an Ops Director of a property investment company which as a stand alone example shows you what was happening in the market. We have all suffered in some way by the ‘crash’ but simple logic makes property still a sound medium to long term investment and the rise of the rental market means demand from tenants continues to increase. Meaning in simple terms, if you want to invest in bricks and mortar for growth, want an initial saving and secure ongoing returns that far out perform the financial sector property is the investment of choice.

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