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UK Properties Soar Beyond Million Pound Barrier

Posted by Peter Brady on Wed 28th June 2006 at 07:09 PM, Filed in Luxury Real Estate To Let Or Buy

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The UK property market has seen unprecedented growth in the last decade. So, I suppose it’s no real surprise to see Halifax reporting that “there are now 63,200 more properties valued at £1 million than there were in 1995.” This is a staggering twenty fold increase.

Is this due to the UK’s housing stock improving in quality, design and functionality? Or is it due to favourable base rates? Or is it due to unrelenting economic growth?

I guess the answer is predominantly down to the two latter options but I don’t think we can completely rule out strides made in design, architecture, technology etc as being a contributing factor. Afterall, I’m not sure how many of the UK’s, 1960’s concrete carbunkles have maintained great value with numerous material defects emerging from those years and extremely bland design to say the least.

Improvements in heat retention, room configuration, climate control and much more really are offering a brave new world for luxury property, which I for one believe will last the test of time.

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