You hear about trends such as our population growing, number of households required is increasing, percentage of homes under home ownership etc. But you never get to read them all in one place. Well I have an article which I read today and it summarises the stats all in one place.
Here are the stats that made me realise that I am in the right industry:
Over the last 50 years house prices rose from £2,507 to £162,085
That is quite a return over 50 years! That is 6,400% over 50 years. 64 times your money.
There have been 4 booms in the last 50 years
They were:
1971-73
1977-80
1985-89
1998-2007
Us investors live for the BOOM! There will be more to come. Like night follows day.
Over the last 50 years the population grew by 9m to 61.8m
We know the population is growing but it is nice to put a figure on it! Seems like its roughly 1m every 5 years.
Single Person Households have increased from 20% of the market to 33%
Again we all know people are living longer and divorce is rife but now we can see that the single person household is now 1/3 of the total number of households.
Home ownership has dropped from 70% to 68% of the market
I knew that home owners were the majority but we are a dying breed. It seems people are preferring to rent. GREAT!