With the FIFA World Cup kicking off today, we have been reflecting on the last time that England was victorious and how much the housing market has changed since then.
- When England last won the championship in 1966, the average price of a home was just £3,558. More than half a century later, average prices have increased by a massive 5853% to almost £212,000.
- Back then, just over half of homes (51%) were owner occupied. Now the proportion of households living in their own home has increased to 63% (although it did peak at 70% in the early 2000s).
- The proportion of households renting privately is at the same level as it was, at 20%. However, this masks the massive change in private renting in the intervening years, having dropped to less than 10% in the early 90s.
- Finally, there have been many changes to the fabric of our housing stock. Since Bobby Moore lifted the World Cup, more than 6.5 million new private homes have been built across England.
The truth about the housing market is that we can't really control it, only respond to it.
Buyers and sellers will often recite the phrase 'A house is only worth what someone is prepared to pay' and we don't despute this. However we also believe that a true property professional, like the ones we here at Newton Fallowell, have the ability and experience to 'influence' what someone will pay for a home.
This influence will come from how a property is marketed, levels of interest stimulated by the estate agent and how offers are carefully handled by the sales negotiator tasked with the goal of bringing about the best result.
Please get in touch if you're thinking of selling and remember, if you havent got goals, you're not in the game!
Good luck to England in the World Cup 2018.