House price growth over the past 12 Ashes
The Ashes, one of the most eagerly anticipated cricket tournaments, has once again concluded for the year. As we bid adieu to this thrilling series, the cricket season continues to unfold, keeping sports enthusiasts and housing market observers alike on their toes. Today, let’s take a nostalgic journey through time and explore the fascinating changes that have taken place in the housing market during the previous Ashes series.
The memory of England’s triumphant victory in the Ashes still warms our hearts, dating back eight years to the unforgettable 2015 home victory. Since that remarkable win, the housing market across England and Wales has witnessed a remarkable transformation, with house prices soaring by an impressive 31% on average. An annual growth rate of 3.8% has been the norm, reflecting the resilience and stability of the property sector.
However, it was during the period between the 2002/03 and 2005 Ashes series that the housing market saw its most substantial growth. An impressive 20% uplift in property prices was recorded during this time, coinciding with another England win on their home turf. The cricketing history was etched with unforgettable moments, including the iconic Edgbaston test and the emotional reclamation of the Ashes urn after a remarkable 16 years.
In contrast, the 2010/11 Ashes series experienced a slight dip in housing market growth. This decline coincided with a rise in the inflation rate, which soared to 4.5%. Interestingly, it was also the first time in 24 years that England clinched The Ashes title in Australia, creating a wave of celebration among cricket fans and undoubtedly impacting the housing market sentiments.
Such intriguing observations are sourced from reliable data outlets like #Dataloft, Land Registry, and Rate Inflation, who have been instrumental in shedding light on the fascinating correlation between cricketing events and the housing market dynamics.