Residential Update

Olden Property is 10 years old this year. 1st February to be precise. As we haven’t had time to write out a list of everything we have learned in this time in order to impart our infinite wisdom (don’t worry we will). Instead we will use various indices to find out what the market has done in this time. So here is our first stat courtesy of the UK House Price Index prepared by the Land Registry.

The average property in Greater London cost £358,000 in February 2014. In December 2023 (latest available data) the average property in Greater London cost £508,000. An increase of 42% in ten years.         

In Kent where Olden Property is based the average cost of a residential property was £210,000 in February 2014. In December 2023 the average was £350,000, an increase of 67%. Does this match up with what local estate agents in Kent would have thought ?   

An interesting third graph would be the average salary in February 2014 versus the average salary in December 2023.