From the archives, 1947: a year of rising prices for homes


December 30, 1947: Houses in 1939 that cost 500 or 600 pounds now command and receive up to 1,500 pounds

The year 1947 saw a house price boom that nearly eclipsed the post-war boom of 1920-1.

While the price of all classes of residential property has risen since 1946, the demand for freehold houses has been remarkable and is possibly higher today than ever before. A Brief History of British HousingRead MoreIt is not unusual to see the best types of houses selling today for 3,000 to 4,000 pounds in the more select residential areas near Manchester, almost four times theii.

C. Homes that have tripled in price or even quadrupled are those that come with the facilities for which the housewife of today still has a longing eye open. These require less “work” than larger and probably more sophisticated homes that warn the prospective buyer to be careful with today’s staffing difficulties and maintenance costs. The rates at which these houses have changed hands have not risen proportionately, but those of the smaller “semi-detached” type have more than doubled, and for houses that cost £ 500 or £ 600 in 1939, something up to £ 1,500 is demanded and obtained. The cited authority said, “It seems impossible to buy a house of any type for less than twice what it was worth in 1939,” In addition, after the dollar crisis overtook us in the fall, prices have jumped again. Via the Town and Country Planning Act, the tight hand that has since been taken in the issuance of building permits, the restraint of investment, and the deterrence of private developers have forced prospective buyers to stop procrastinating and pounce now, however deep the fall. “I fear that the current conditions would continue for several years,” the authority said, “and that some limitation on the use of free capital might be the only thing that will lower prices. The dollar crisis would definitely fight against free and wasteful housing investment, even in cases of utter urgency. If we were in normal times, a housing program such as that of 1930-5 would be just the th “I wouldn’t say commercial property is as high as it can go because the prospects for commercial buildings, or even repairing some of the war-damaged buildings that are still standing in some cases, are much lower than in the case of residential property because the latter gets whatever priority is given. “This is an edited version.


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