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Horncastle Property Market Worth More Than PayPoint

Article Simon Jory 2018-04-09
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Horncastle Property Market Worth More Than PayPoint

The value of all the homes in the Horncastle area has risen by more than 248% in the past two decades, to £576.3m, meaning its worth more than the stock listed company PayPoint, which is worth £562.4m.

Those Horncastle homeowners and Buy-to-Let landlords who bought their properties twenty or more years ago have come out on top, adding thousands and thousands of pounds to the value of their homes as the younger generation continue to be priced out of the market. This is even more remarkable because, in those twenty years, we had the years of 2008 and 2009 following the global financial crisis, where we saw a short term drop in house prices of around 20%. Although recently there have been a number of consecutive years of growth in property growth it hasn't been anywhere near the levels seen in the early 2000's.

Twenty years ago, the total value of Horncastle property was worth £165.5m. Over those twenty years, total property values have increased by £410.8m, meaning today, the total value of all the properties in Horncastle is worth £576.3m. Even more remarkable, when you consider the FTSE100 has only risen by 40.84% in the same time frame. Also, when I compared it with inflation, i.e. the UK Retail Price Index, inflation had risen by 72.2% during the same twenty years.

So, what does this all mean? As we head through 2018 and beyond, even though property values are declining in certain parts of the previously over cooked central London property market, the outlook in Horncastle remains relatively good. Over the last five years, the local property market has been a lot more sensible than central London's.

Local property values will remain resilient for several reasons. Firstly, demand for rental property remains strong. Secondly, with 0.5% interest rates, borrowing is still cheap, and finally, the limited amount of new house building. It might be a bumpy ride over the next year or two but, in the medium term, property ownership and property investment in Horncastle has and always will, out ride out the storm.

Sources:

  1. The numbers of properties in type come from the Census for Horncastle.
  2. The average value of property to calculate the figures comes from ZPG for all the postcode districts covered by your Horncastle
  3. RPI from Office of National Stats FTSE 100 from Swanlow Park and Bank of England

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Simon Jory

Simon Jory

Simon has been in Estate Agency for over 32 years and is a Fellow of the National Association of Estate Agents. Having working in all kinds of changing market conditions he is well placed to advise on how best to sell your home.

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Anne Pearce

Anne prides herself on working to the highest standards and believes everyone should receive the best possible customer service. With over 20 years' experience she will not miss and opportunity.

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