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House prices by Prime Minister (including Thatcher)

Alex Johnson

images House prices by Prime Minister (including Thatcher)An interesting post by Kate Everett-Allen at the Knight Frank blog looks at UK property prices under Prime Ministers from Eden to Cameron. There are various tables which are worth looking at closely examining the exact rise under each leader and the average annual percentage change to March this year.

A few of the highlights:

* UK house prices rose the most under Tony Blair’s tenure (211.3%) followed by Margaret Thatcher (187.9%)

* House prices performed best under Edward Heath when growth averaged 32.8% per year, followed by Tony Blair (21.1%) and Jim Callaghan

* Despite the downturn in the 1990s, under John Major there was still positive growth of 6.3% a year

“Post 2008 the global financial crisis and its repercussions – rising unemployment, weak consumer confidence and tighter lending constraints – took the wind out of the UK housing market’s sails,” writes Kate. “As a result Gordon Brown and David Cameron are the only Prime Ministers since 1955 to have presided over a period of negative growth for UK house prices. Prices slipped 7.2% during Mr Brown’s four year premiership and prices are now 3.4% lower than when Mr Cameron took office in May 2010.”

They have also put together something similar for farmland values under each PM.

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