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Wednesday, July 02, 2008

HOUSE PRICES THEN & NOW

I have been finding it difficult to find much stuff on the net about house prices over the years & if anybody else knows a good source I would appreciate it.

However I have got this about house prices & rents in Warwickshire between 1907 & 1921 (more of the listing is given over to renting which seems to be around £25) & I have put some examples placing beside them what this is equivalent to in 2006 prices by the usual RPI calculation from the Measuring Worth site

1907 northumberland rd houses £1200 each-----£87,251.18
1908 eastbourne terrace 12 house £525 -----£37,686.12
1908 st marks rd 11 milverton house £1,350----£96,907.16
1910 greens norton hall near towaster house £11,000-----£771,593.69
1911 compton st 1a & 1b coach house £700------£48,999.76
1912 regent st 38 & 40 house £1,275--------£86,735.49
1917 higham grange higham on the hill house £10,000------£385,077.82
1920 the lodge newbold terrace house £3,000------£82,833.40
[1921 gordon st 10, 11, 12, 13, houses £280-------£8,536.30]
[1921 new st 42, 44, houses £350------------------£10,670.37]
10/aug/1906 elmdon lodge radford rd 100 house price £560----£41,384.71
1/feb/1920 daulcourt kenilworth rd house £4,500------£124,250.10
10/aug/1906 elmdon lodge radford rd 100 house price £560------£41,384.71

It may be I am misreading the Gordon St & New St entries & they are just for rent. What I am assuming is the same Greens Norton Hall is currently for sale at Offers in excess of £895,000 [The Hall, Towcester Road, Falcon Manor, Greens Norton) although since it is described as merely "forming a major part of the original Falcon Manor" the price given in 1910 may be fro thewhole original building.

It does overall look like most prices would fit in the band of £40,000 to £80,000 which is a pretty good band to be sitting in today if you are buying a house. From the use of titles such as lodge & the very fact these are considered worth recording it may well be that these are largely the more expensive houses.

Our current planning system system has not altered much from the Town & Country Planning Act 1947 though before that was the first Housing and Town Planning Act 1909, to which there followed: Housing and Town Planning Act 1919, Town Planning Act 1925 and Town and Country Planning Act 1932.

I can think of no technological reason, other than this planning system which would account for house prices rising about 4 times in real terms. Indeed with JCBs, off site manufacturing & new materials it would be reasonable to expect them to have risen slightly less than the overall RPI. If so this means that something like 75% of the cost of housing is government bureaucracy & restriction of supply.

Comments:
Have you seen this?!

http://news.bbc.co.uk/2/hi/europe/7486999.stm
 
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