Cost of a single brick in UK property nearly £50.00
New research has found that the average cost of a single brick, sitting in a UK house is worth nearly £50.00 when based on the overall value of the property. A single brick, when calculated by looking at the price and size of an average home, is worth £47.44, the Centre for Economics and Business Research (Cebr) has calculated. The nation’s varying regional property prices means that each brick used in building a typical London home is worth £121.08 when divided by the overall property value. The cost of a brick sitting in a property has increased by a third (33%) over the last decade as property values have surged. In 2006, a single brick would have been worth £35.70. The value of a brick from a DIY shop is around 89pence per unit. Therefore, the average brick sitting in part of a property is costing over 50 times the retail amount! Following the vote to leave the EU, and the subsequent uncertainty surrounding the property market since Cebr predicts a growth in property prices and forecasts that a brick in an average UK home will be worth £58.69 by 2020. In London Cambridge and Oxford, the cost per brick is the number is anticipated to reach nearly £150 by 2020. The research by Cebr’s included house price data from the Office for National Statistics (ONS) combined with the calculation of the average number of bricks used in each of the areas analyzed to draw it’s conclusions. The continuing shortfall in properties on the market and lack of new build developments is likely to continue the upward property price trend in the mid to long term. Fears of Brexit destabilizing and causing price retractions nationwide are unfounded, as the weak sterling continues to encourage investment from overseas.
Cost of a single brick in UK property nearly £50.00
New research has found that the average cost of a single brick, sitting in a UK house is worth nearly £50.00 when based on the overall value of the property. A single brick, when calculated by looking at the price and size of an average home, is worth £47.44, the Centre for Economics and Business Research (Cebr) has calculated. The nation’s varying regional property prices means that each brick used in building a typical London home is worth £121.08 when divided by the overall property value. The cost of a brick sitting in a property has increased by a third (33%) over the last decade as property values have surged. In 2006, a single brick would have been worth £35.70. The value of a brick from a DIY shop is around 89pence per unit. Therefore, the average brick sitting in part of a property is costing over 50 times the retail amount! Following the vote to leave the EU, and the subsequent uncertainty surrounding the property market since Cebr predicts a growth in property prices and forecasts that a brick in an average UK home will be worth £58.69 by 2020. In London Cambridge and Oxford, the cost per brick is the number is anticipated to reach nearly £150 by 2020. The research by Cebr’s included house price data from the Office for National Statistics (ONS) combined with the calculation of the average number of bricks used in each of the areas analyzed to draw it’s conclusions. The continuing shortfall in properties on the market and lack of new build developments is likely to continue the upward property price trend in the mid to long term. Fears of Brexit destabilizing and causing price retractions nationwide are unfounded, as the weak sterling continues to encourage investment from overseas.
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