Special Features

How much has your home earned since the last White Christmas?

|
4th December 2015
""

Bing dreamed of them, bookies dread them. For the majority of folk, a White Christmas is a wonderful thing. A complete blanket covering of snow between midnight and midday on 25 December. Lovely.

However, according to the Met Office, the definition used most widely, notably by those placing and taking bets, is for a single snowflake to be observed falling in the 24 hours of 25 December at a specified location. Not very Christmassy, but a bet's a bet I guess.

Traditionally the location was the Met Office building in London. However, due to an increase in betting on where will see a White Christmas, the number of locations have increased and can now include Buckingham Palace, Coronation Street in Manchester and the Millennium Stadium in Cardiff.

According to weather boffins, the last 5 official White Christmases were:

2000
2001
2004
2009
2010

To find the last official UK white Christmas (A proper one, not a solitary flake) we have to travel back in time to 2010.

25th Dec 2010: Blackpool were still in the premiership, Xfactor's Matt Cardle (who?) grabbed the Christmas no1 and the creator of the Wombles sadly died. More importantly though, for the sake of this article, average house prices in the UK at this time stood at £162,971.

According to the same data source (Nationwide), current house prices in the UK are £196,807, meaning the average house has gained a healthy £33,836 in value since the last white Christmas. With all the money your home has made in the last five years you could actually buy a live Womble or Blackpool FC or 33,836 Matt Cardle (Anyone?...anyone?..nope.) CDs.

Let's take a look back at average UK house prices for the last 5 White Christmas years.

(Real house prices are adjusted for the effects of inflation. This gives a more meaningful guide to how house prices have increased compared to typical prices in the economy.)

2000
Period     House Price   "Real" House Price
2000 Q4       £81,628      £123,261        

2001
Period     House Price   "Real" House Price
2001 Q4       £92,533        £138,281

2004
Period     House Price   "Real" House Price
2004 Q4       £152,464      £209,297

2009
Period     House Price   "Real" House Price
2009 Q4       £162,116      £194,125

2010
Period     House Price   "Real" House Price
2010 Q4       £162,971      £186,466

So there you have it. While they might not be as frequent as our nostalgia riddled heads would have us believe, they do happen. Each one bringing the gift of a little more equity in our home.

Seriously tho, who the hell is Matt Cardle?

Related articles
More from Special Features
Latest from Financial Reporter
Latest from Commercial Reporter