UK houses prices have soared 100-fold since 1966

[Kaleel]

....rising three times faster than wages

UK house prices are 106 times higher than they were when England won the World Cup in 1966, according to research from online mortgage broker Trussle.

Average house prices have gone up from £2,006 to £211,000, the company found, while wages have risen at around a third of the rate, moving from £798 to £26,500.

But for the country’s footballers, the story is somewhat different.

On average Premier League footballers earn 1,136 times more than top-flight stars like Bobby Moore and George Best did back in 1966.

It’s estimated that the average wage of the current England squad is just below £80,000 per week - more than 3 times the annual UK average wage.

Ishaan Malhi, CEO and founder of Trussle, said: “A lot of has changed since England won the World Cup. We’ve put a man on the moon, invented the internet and we’ve seen technology transform almost every aspect of our lives.

“We’ve also seen the UK housing market change dramatically. Prices have soared in the last 52 years, wages have struggled to keep pace and for young people, the chances of getting on the property ladder today will feel a lot slimmer than they did in 1966.”

The research from Trussle comes as analysis from trade union GMB published yesterdayshowed that rents in London are far outpacing wage growth.

Analysing data from the Valuation Office Agency, GMB found that between 2011 and 2017, rent prices for two-bedroom flats in London increased by 25.9 per cent, whilst over the same period, monthly earnings increased by just 9.1 per cent.

http://www.cityam.com/286999/uk-houses-prices-have-soared-100-fold-since-1966-rising

 

[Western4Life]

Foreign buyers should be banned from purchasing real estate.

 

[Macalin M]

They need so subsidise house building. As soon as there is excess supply prices would gradually drop and more houses would be brought

 

[DRACO]

Foreign buyers should be banned from purchasing real estate.

In London all these luxury apartments going up and half the buildings are unoccupied major joke.

 

[RedStar]

Rigorous land value tax policies could fix this problem, but it is in the best interest of the current political giants to keep the status quo.

 

[Macalin M]

To be fair I know people who have gotten some decent houses on the outskirts of London but the downside is they have to drive to get to a supermarket and stuff

 

[RedStar]

To be fair I know people who have gotten some decent houses on the outskirts of London but the downside is they have to drive to get to a supermarket and stuff

I'd rather drive to the supermarkets than go overdraft for even breathing in London.

My dad bought our family home up here in Manny for a 1/10th of what it would cost to buy a garden shed on the edge of the M25. People should really look outside of London and the south east in general.

 

[AliUK]

In London all these luxury apartments going up and half the buildings are unoccupied major joke.

Theta re occupied, it's just by people who are living in them like the Chinese show ant somewhere to maybe move to later on,investment or for when their kids go to university in the city.

 

[AliUK]

I'd rather drive to the supermarkets than go overdraft for even breathing in London.

My dad bought our family home up here in Manny for a 1/10th of what it would cost to buy a garden shed on the edge of the M25. People should really look outside of London and the south east in general.

Manchester is becoming a big market second market for Chinese investors in the UK. Over the last few years, foreign buyers having been snatching up commercials and residential housing.Money to be made in the Manny's market.

 

[RedStar]

Manchester is becoming a big market second market for Chinese investors in the UK. Over the last few years, foreign buyers having been snatching up commercials and residential housing.Money to be made in the Manny's market.

They're buying up properties all over the UK. Liverpool, Edinburgh, Birmingham and Cardiff. They're hoarding all the land and most of the time they're doing nothing with is. This is why I'm a huge proponent of some Georgist land value tax policies. We should only award the most productive occupants the proprietary rights to the land