With the football World Cup in full swing, we have been taking a look at how property prices have changed since England last won the trophy in 1966.
Things have certainly changed! The average price of a home in 1966 was just £3,558. More than half a century later, average prices have increased by a massive 5,853% 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 – and yet we still have a major housing shortfall!
For more advice about property in Kidderminster and Worcestershire, give us a call on 01562 745082.