Significant mortgage value increases are likely to have been seen across homes in the UK that were built prior to the First World War.
New research from Halifax – through its Property Age Review – has found such houses have enjoyed the biggest jump in price over the past 25 years.
According to the study, properties constructed before 1919 have leapt in value by an average of 461 per cent, from GBP33,619 to GBP188,473.
This is the equivalent of a GBP516 hike every month between the commencement of the war and 2011.
Martin Ellis, housing economist at Halifax, which is a division of Bank of Scotland and is regulated by the Financial Services Authority, said: “Properties from the Victorian or Edwardian era tend to be in higher demand – there are fewer of them, they are often larger [and] situated in desirable locations.”
The industry figure noted it is easy to see why these dwellings are likely to have seen their mortgage values climb, as the age of an abode often determines its style, size and location.
