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One small step for man, one giant leap for property prices

Posted by jane on 17th July 2019
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On 20th July 2019, it will have been 50 years since Neil Armstrong and Buzz Aldrin took their first tentative and legendary steps on the surface of the moon.

Things have changed a bit since then. 50 years ago, British tennis champ Ann Williams had just won Wimbledon, England were world football champions, and The Rolling Stones were number 1 in the charts.

Millennials, hold on to your hats. Back in 1969, the average home would have cost £3,859. With the average house price now being £228,903, that’s a breath-taking rise of 5,832%!

This figure can easily be met with ‘but everything’s relative, the price of everything’s gone up and wages are higher!’ so let’s break it down a bit further:

If you were to convert the 1969 house price into the equivalent in today’s money, the average home would have still cost £64, 333 showing a rise in real terms of 256%, which is still a lot of difference.

To put that into perspective, in 1969 a home would have cost 4.5 times the average wage, but in 2019, UK properties cost 8 times the average wage!

We’ve been trading since 2004, so that’s over 15 years – we’ve got a little way to go to reach 50. But we wonder what the property market will look like in 50 years’ time. Maybe the two themes of this post will combine, and we’ll be selling properties on the moon? One thing we do know for certain, property prices will continue to fluctuate, and we’ll still be making sure we have the same high level of customer service for every single customer who walks through our doors, picks up the phone to us, or sends us an email (on earth, or in outer space!)

If you are thinking of moving to Staines-Upon-Thames, via the moon or not, why not give us a call to discuss your needs?

☎︎ 01784 441818

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