In the short time since the Christmas before last Hillingdon property prices have risen by 25%. To cast your mind back there was anti-government protests in Kiev, Ukraine and world leaders were attending Nelson Mandela’s funeral.
Back in December 2013 the average sold price for a Hillingdon property was £281,680 and that figure was £352,202 a couple of months back in August this year. So a smidgen over 25% in 20 months. A strong increase which is matched in other areas nearby such as Harrow and Ealing.
How long since Uxbridge property prices up by a third?
Given that house prices rose throughout 2013 the title could easily be that house prices in Hillingdon up 33% in the 31 months since January 2013.
As I aspire to further invest in buy to let property myself or perhaps move home one day, do these figures worry me? I would prefer that growth was slower and steadier but that is not how free markets work. There are rises and falls.
What’s the longer term picture?
So if we look back a little further to the previous property price of £278,582 in January 2008, you could also say that the increase since this point was 26.4% only a little over the 25% since December 2013.
Annualised this January 2008 figure makes for an increase of 3.4% in property prices since this time. So an average increase of 3.4% each year from 2008 to 2015. I would take a longer term view and say that despite my headline this is a more realistic increase rate that I would anticipate going forward. Even then that’s a good return for landlords on top of yields. Although the past is no guide to the future and all the normal future prediction warnings!