The timeline portrays the key areas and times that have seen the biggest changes, while also showing how drastic the change in the property market has been compared to other areas of the economy.
Affirmative’s timeline shows how the effect of the rise in property prices since the 1960s has impacted on homeownership as well as the growing rental market.
Gary Lederberg, director of Affirmative, felt people talked about the current property market or the property market since the credit crunch and it wanted to take a step back to see the “amazing” change over the last 50 years.
“It was only in 1975 that the average house price was £10,000.
“Experts predict that by 2025 the average house price will be £419,000, although admittedly there is now some uncertainty in connection with those projections.”
Gary said as Affirmative talked more about the property market, the lender felt it was a good idea to share its thoughts and provide the market with an infographic overview.
“To me history is not just about what happened in the past, but taking the events of the past and applying them to today.
“This is what we do every day in Affirmative as we structure transactions in our own inimitable fashion to the benefit of our customers and intermediaries time and time again.”
To view the timeline visit www.affirmativefinance.co.uk/resources/timeline-how-has-the-property-market-changed-over-the-past-50-years/.
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