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Reading house prices rocket by 500 per cent in 20 years


03-15-2016

House prices continue to rise

House prices in one Reading postcode have soared by more than 450 per cent over the past 20 years.

Median prices in RG18, near Reading station, have risen by 467 per cent from £55,000 in 1995 to £312,000 in 2015.

In RG12, in Reading town centre, prices were up 444 per cent, from £45,000 in 1995 to £244,999 in 2015, while in RG65, in Earley, Wokingham, prices were up 429 per cent from £85,000 to £449,950.

House prices in one West London postcode have increased 20-fold over the past 20 years, making it the the biggest increase in England and Wales.

Median prices in W1B 1, along Portland Place in Westminster, have risen by 1,875 per cent from £200,000 in 1995 to £3.95m in 2015.

There were 15 postcodes in England Wales where prices have increased ten-fold or more over the past two decades.

Between 1995 and 2015, inflation was 73 per cent, according to the Bank of England, so £1 in 1995 would be worth £1.73 in 2015, meaning house prices in many areas have strongly outpaced inflation.

Figures on house prices come from the Land Registry price paid data, and are based on postcodes with six or more sales in both 1995 and 2015. Areas with fewer sales are shown in the widget but with a warning about the low numbers of sales.

Not all postcodes will return a result in the widget - if there were no house sales in 1995 or 2015, then there is no way to compare, this may be the case for postcodes that relate to groups of houses built during the past 20 years, or very rural areas with few homes and few sales.

www.getreading.co.uk/

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