{"id":2939,"date":"2017-06-22T16:30:15","date_gmt":"2017-06-22T15:30:15","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=2939"},"modified":"2017-06-22T16:30:15","modified_gmt":"2017-06-22T15:30:15","slug":"average-uk-house-prices-increased-40-since-2009","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-us\/news\/average-uk-house-prices-increased-40-since-2009\/","title":{"rendered":"Average UK house prices increased by over 40% since 2009"},"content":{"rendered":"<p><strong>House prices in the UK have increased by over 40% and almost \u00a360,000 over the last eight years since interest rates first hit historic lows.<\/strong><\/p>\n<p>The Bank of England <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2016\/08\/08\/bank-rate-cut-tops-flops\/\" target=\"\" rel=\"noopener\">lowered interest rates<\/a> to 0.5% in March 2009 and property prices have increased by 41.2% since. In August 2016, interest rates were lowered once again, to 0.25%.<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"24w9GZr0wg\"><p><a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/06\/22\/queens-speech-no-letting-fees\/\">The Queen\u2019s Speech: No more letting fees!<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;The Queen\u2019s Speech: No more letting fees!&#8221; &#8212; BuyAssociation Group\" src=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/06\/22\/queens-speech-no-letting-fees\/embed\/#?secret=FRwsWq1PrV#?secret=24w9GZr0wg\" data-secret=\"24w9GZr0wg\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>Online estate agent HouseSimple had a look at the figures in times where there\u2019s a chance that rates could increase again. Three members of the Bank of England\u2019s Monetary Policy Committee (MPC) voiced their opinion last week that the <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/11\/30\/uk-house-prices-nudge-upwards-defy-downbeat-expectations\/\">rates should rise again<\/a> due to a steady rise in inflation. They were outvoted this time around, however this indicates the direction the MPC may be heading towards.<\/p>\n<p>Since rates were cut to 0.5% in 2009 Cambridge has seen the biggest house price rise, at a rate of 96.7% (from \u00a3224,469 to \u00a3441,527). London is following closely with an increase of 90.8% (from \u00a3278,186 to \u00a3530,751) as well as Slough at 90.1% (from \u00a3160,774 to \u00a3305,649).<\/p>\n<p>In an analysis of 100 towns and cities across the country, figures have revealed that home owners in the <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/02\/16\/property-investment-england-focus-south-east\/\" target=\"\" rel=\"noopener\">South East<\/a> have benefited the most from the increase as seven out of ten of the biggest <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/11\/21\/pay-30000-live-one-englands-market-towns\/\">property price increases<\/a> are located in the region.<\/p>\n<p><strong>For investors, however, the area turned out to <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/06\/22\/new-study-locates-10-buy-let-hotspots-englands-north\/\" target=\"\" rel=\"noopener\">become the least lucrative part of the country to invest in<\/a>. <\/strong><\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"mWTNt9RMkF\"><p><a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/05\/02\/demand-investors-uk-property-rise-rics-says\/\">Demand from Investors for UK Property is on the rise, RICS says<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;Demand from Investors for UK Property is on the rise, RICS says&#8221; &#8212; BuyAssociation Group\" src=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/05\/02\/demand-investors-uk-property-rise-rics-says\/embed\/#?secret=uHLCI78bVP#?secret=mWTNt9RMkF\" data-secret=\"mWTNt9RMkF\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>Alex Gosling, chief executive office at HouseSimple, commented the findings:<\/p>\n<blockquote><p>\u201cThere is no evidence to suggest that property prices are about to plummet, but home owners and home buyers do need to plan ahead, and make sure they can cover the impact of interest rate rises on their monthly mortgage payments.\u201d<\/p><\/blockquote>\n<p>\u201c<a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/01\/09\/home-ownership-overestimated-think-tank-reveals\/\" target=\"\" rel=\"noopener\">Many home owners<\/a> will have never seen an interest rate rise, and may believe rates will never rise. But they will eventually, and when they do, we could see rates rise by 1% to 2% quite quickly. With many households already feeling the strain of higher day to day costs, monthly mortgage payments going up by several hundred pounds a month could tip them over the edge,\u201d he concluded.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>House prices in the UK have increased by over 40% and almost \u00a360,000 over the last eight years since interest rates first hit historic lows. The Bank of England lowered interest rates to 0.5% in March 2009 and property prices have increased by 41.2% since. In August 2016, interest rates were lowered once again, to<a class=\"excerpt-read-more\" href=\"https:\/\/www.buyassociationgroup.com\/en-us\/news\/average-uk-house-prices-increased-40-since-2009\/\" title=\"ReadAverage UK house prices increased by over 40% since 2009\">&#8230; Read more &raquo;<\/a><\/p>\n","protected":false},"author":1069,"featured_media":4291,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[6],"tags":[124,33,107,35],"acf":[],"_links":{"self":[{"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/posts\/2939"}],"collection":[{"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/users\/1069"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/comments?post=2939"}],"version-history":[{"count":0,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/posts\/2939\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/media\/4291"}],"wp:attachment":[{"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/media?parent=2939"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/categories?post=2939"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/tags?post=2939"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}