Property News · January 23, 2016

Twenty years on – the winners and losers of Britain’s property boom


Since 1996 the country has been divided into those who have made fortunes and those who are still renting. Here are some of their storiesIt is two decades since the great British property boom began. Since 1996, average house prices have risen by an extraordinary 281% across the UK, while in London the figure is 501%, according to the Nationwide house price index. Buy-to-let landlords have benefited the most, typically earning returns of £14,987 for each £1,000 they invested 20 years ago.But few of the people buying or selling in 1996 could have predicted the huge financial impact their decisions would have on the rest of their lives. We spoke to those who purchased their property that year, but also people who got off the ladder and started renting instead. It is a tale of two Britains, where buyers have made millions and renters have shelled out tens of thousands of pounds and live a fragile existence. Continue reading…

Source : theguardian.com
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