London House Price News: Pre-1919 home values up 461 per cent in the past 25 years.

Traditional properties built before 1919 have seen the biggest price rises over the past 25 years.

Research conducted by the Halifax shows that properties older than 92 years have risen by 461 per cent from £33,619 in 1986 to £188,473 today. This means that they have risen by an incredible £516 each month.

In its Property Age Review, the bank said that properties built after 1960 have seen the next biggest price rises, going up by 348 per cent. Those constructed between 1919 and 1945 were close behind at 345 per cent.

But houses built between 1945 and 1960 didn’t fare as well, with rises of just 249 per cent. This could be in part due to the number of poorer quality properties built during the housing shortage which followed the Second World War.

Martin Ellis, Halifax housing economist, said: "Properties from the Victorian or Edwardian era tend to be in higher demand: there are fewer of them, they are often larger, situated in desirable locations, and have a popular style.

“It's easy to see why pre-1919 homes witnessed such a dramatic increase over the past 25 years".

Unsurprisingly, older properties in London are the highest valued nationally, with the average pre-1919 home worth an estimated £361,000.

However, over the past 25 years homes from that era in Scotland have seen the biggest increases with property values now 528 per cent than they were in the year that the Bangles walked like an Egyptian.

In that same quarter of a century pre-1919 London homes rose by 521 per cent while ones in Yorkshire and the Humber performed almost as well at 520 per cent. The smallest increase has been in the south-east at 408 per cent.

Overall, properties values rose by 0.4 per cent in the month of October according to the Nationwide’s latest house price index.

London House Price News