UK Investment Property Prices Since the Last White Christmas

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We rarely have a white Christmas in the UK, though many may dream of it. According to the Met Office, the last time we enjoyed a ‘widespread’ white Christmas was back in December 2010 with 83 per cent of areas registering snow on the ground and 19 per cent seeing actual snowfall on the day itself.

Using Land Registry data, lettings and estate agent, Benham and Reeves have found that since that last white Christmas, UK property prices have increased by 38.9 per cent, up from an average of £168,703 to their current average of £243,370. 

England has enjoyed the largest increase of all UK nations at 42.4 per cent, while London has seen the largest regional growth (66.3 per cent).

The capital, of course, accounts for the areas to have enjoyed the largest increase since the last white Christmas, with the City of London seeing the largest increase across the nation at 101.8 per cent, very closely followed by Waltham Forest with an increase of 101.6 per cent.

Other areas to have fared well in the capital are Hackney, Lewisham and Barking and Dagenham whilst outside of London, the largest increase has been in Slough (75.5 per cent), Corby (71.6 per cent), Harlow (70.1 per cent) and Medway (67.7 per cent).

Rather traditionally, Aberdeen has seen the worst house price performance since the last white Christmas with property values down -7.1 per cent, joined by Inverclyde (-1.7 per cent), with County Durham the only other area to register a negative change (-1.3 per cent).

Director of Benham and Reeves, Marc von Grundherr, commented: ‘We may all be dreaming of one, but the chances of a white Christmas are depressingly low in this day and age.

‘However, it’s encouraging to see that despite all the political and economic uncertainty that has been thrown at the UK property market over the last few years, house prices have grown in almost all areas of the UK since the last widespread white Christmas was recorded.

‘Although we probably won’t see snow this Christmas, this almost decade long stint of positive market momentum is unlikely to let up and we should see yet further upward growth gifted to UK homeowners this coming year.

‘Unless you live in Aberdeen, Inverclyde or County Durham, all of which seem to be well and truly on the property naughty list.’

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