Halifax has marked the launch of the next chapter in the Star Wars saga with an analysis of house price performance since the first film came out in 1977.
Back in May 1977, UK housing stock stood at £194.4 billion. Move forward to today and the value has increased to £5.1 trillion – a change of 2519%.
Back in 1977 the average house cost £13,650 – less than the price of the average car today – and with the latest Halifax House Price Index putting average prices at £204,552 that equates to an increase of 1,399%.
Those buying when the UK was introduced to Hoth in 1980 for the Empire Strikes Back would have seen the value increase by 767%. And those getting on the ladder in 1983 when the Ewoks were creating havoc on Return of the Jedi will have seen the value of their home rise by 566%.
The Phantom Menace may have introduced us to Jar Jar Binks, but it was good news for homebuyers in 1999, who have seen the value of their home increase by 170%. 2002’s saw Attack of the Clones hit the big screen and since then house prices have stormed by an average of 93%. It’s been 10 years since Revenge of the Sith saw Anakin finally fall to the dark side, and in that time house prices have grown a more modest 26%.
|House Price £||% Changes to Nov 2015|
|1977 May (Annual)||13,650||1399%|
|1980 May (Annual)||23,596||767%|
|1983 May (+Q2)||30,725||566%|
|1999 May (+Q2)||75,844||170%|
|2002 May (+Q2)||106,195||93%|
|2005 May (+Q2)||162,783||26%|
Craig McKinlay, mortgages director at Halifax, said: “For Star Wars fans the promise of a new trilogy means the circle is now complete. Box office receipts are likely to cement the franchise’s place as one of the most successful series of all time.
“However, its no Jedi mind trick to say even the returns here have been dwarfed by increases in the value of UK housing stock.”