Lender reveals property trends
AHEAD of the Queen’s diamond Jubilee, Halifax has tracked key housing market developments over the past 60 years.
It says London has recorded the biggest rise in house prices since 1971, with an increase of 189 per cent. The South West recorded the second highest at 163 per cent, followed by Yorkshire at 159 per cent. Scotland recorded the smallest rise of 91 per cent.
Halifax charts a substantial growth in home ownership and a shift towards single occupancy households over the past six decades.
However, it says that more than 15 million homes have been built in the UK in that period.
The proportion of homes in the private rented sector has fallen by two-thirds since the 1950s.