According to a new survey by the building society Halifax, house prices near the M25 motorway have increased by 551% since its creation 30 years ago. They state that average property values have increased from £59,183 to £385,903 - the equivalent of £905 per month over a 30 year period, or a yearly rise of £10,863 or 6.4%.
Ten towns around the M25 have seen property rises of over £400,000, with Rickmansworth being the most expensive town in the area. The most expensive sections around the orbital motorway are in the South and Northern sides. However, these house prices lag way behind London, despite being around the same price at the time of the M25’s conception.
In 1986 the most expensive towns close to the motorway were Leatherhead at £87,725, Sevenoaks at £86,789 and Rickmansworth at £83,511.1
According to the ONS, the Office for National Statistics, the biggest growth in house prices was in 1988. Between the 80’s and the present day house prices have only fallen for seven distinct years, with the largest fall being in 2009 when house prices dropped by 7.6%.2
Most of us will have an understanding that property in the UK rises and dips and the best way to achieve a good return on a property investment is to look at it as long-term investment rather than a short one - as investing money in property can offer a very good return on an investment, as we have seen over the past 30 years.
If you are looking at investing in a property, why not pop into your local branch of Goodfellows for a chat and coffee or call our team on 020 8102 0554
2 This is Money http://www.thisismoney.co.uk/money/mortgageshome/article-