Pre-World War One homes enjoy biggest price increases

A Halifax survey reveals how four property age bands have performed over the past 25 years.

Halifax says that pre-World War One homes have enjoyed the biggest increase in value over the past 25 years.

The bank’s Property Age Review looked at price movements across four property age bands using its own statistics. The property bands are pre-1919, 1919-1945, 1946-1960 and since 1960.

The average price increase over the past quarter-century across all age bands was 357%, or £449 a month.

However, houses built before 1919 have increased in value by an average of 461%, or £516 a month. But this type of home has performed least well since the housing market downturn started in 2007, with average prices falling by 30%. The average price for this type of home is now £188,473, the most expensive in the survey.

Properties built since 1960 have seen the second largest rise in house prices, increasing by 348%, or £438 a month. But they’ve dipped in value by 19% since 2007.

Homes built between 1919 and 1945 have risen by 345%, or £468 a month. They’ve fallen by 25% since 2007.

And properties built between 1946 and 1960 have increased in value by 249%, or £344 a month. They’ve dropped by 26% since 2007.

Unsurprisingly, the most expensive properties across all the age bands are in Greater London. But Scotland has seen the largest average price increases at 528%. The smallest increase was in Northern Ireland, although 283% still looks pretty good to us.

More: House prices ‘unlikely to recover’, warns Bank economist | Huge increase in house prices in market towns

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