Crawley revealed as one of the town's with the most dramatic house price increases in the last 10 years in the UK
A new study has shown Crawley has had one of the most dramatic house price increases in the last decade compared to other UK towns.
The study from ElectricalDirect has discovered just how much less house you now get for your money.
It’s no secret that as the property market has boomed, house prices have also skyrocketed, with the average house price in England increasing by 171% since 1980.
Back in 1980, the average price for a house in England was £18,377, but in 2020, you’re now looking at an average of £247,898.
The study highlights that 171% increase hasn’t been caused by inflation alone, but the demand for houses, and buyers willing to pay more to land their dream home.
On the flip side of this, as prices may be going up, sizes are going down, the study reveals how much smaller the average house now is. In 1980, on average UK houses boasted 75 SQM of space, but in 2020, the average house size is now at around 67 SQM, which is an average decrease of -18.61%.
If this trend is set to continue, in forty years time houses as small as 53 SQM could be selling for upwards of £422,723.
Crawley takes ninth place as town with the highest house price increase
In 2020, Crawley was voted as one of the best areas to buy a house in the UK and earn a living as either a local or a commuter. The average house price in this town has increased by 57% over the last 10 years, and now stands at an average cost of £282,120.
Southend has become a popular commuter city for workers in London, and appears to have also begun to adapt to those notoriously high London house prices, with an increase of +68%, not only that, the average house size has also decreased with Southend reporting a -1% decrease. The average house price in Southend-On-Sea now stands at £287,717, landing this city the top spot on the index.
Brighton was sixth in the list with an increase of 59% while Worthing was 15th with an increase of 53%.
What’s in store for the future?
As a part of ElectricalDirect’s study, it was predicted that house prices are set to continue to increase as the property market shows no signs of slowing down. While in England, average house prices are around £244,180, this figure could almost double, and in 2060 average house prices could be around £422,723.