2020: A decade in the housing market

Happy new year! A new decade has begun, an ideal time to look back at the housing market over the past 10 years. In England and Wales, the average price of a property has risen by £72,000 over the past decade. Across the South East, South West and London, average property prices have increased by over £100,000. All but one region have seen double digit house price growth. Official figures indicate 30% of dwellings are now rented privately from registered providers or with a job or business. This equates to an extra 1.3 million dwellings compared to a decade ago. Changing demographics and family structures have seen the number of households rise at a higher rate than the population since 2010, a trend that looks set to continue. What will the next decade hold? Only time will tell.