House prices risen by £186,638 since 1955 F1 British Grand Prix
The average house price has jumped by 9,680% since British driver Stirling Moss became the first ever homegrown winner of the British Grand Prix in 1955.
The average house price in Britain has soared by £186,638 since British driver Stirling Moss won the 1955 British Grand Prix, according to the latest research by eMoov.
The average house price in that year was £1,928, which compared with today’s average house price of £188,566, is an increase of 9,680 per cent.
A total of 11 British Formula 1 drivers have stood on the top step of the podium in the British Grand Prix. The race has been won by a British driver 22 times since it began, with the most recent winner being two-time world champion Lewis Hamilton, who won at Silverstone last year and in 2008. At the time of Hamilton’s 2014 win, average house prices stood at £168,973 – a difference of 12 per cent to the current average, the agent said.
Russell Quirk, founder and chief executive of eMoov, remarked: "Things have changed dramatically in the UK since Stirling Moss first made the podium in 1955, both in F1 and property. It really is mind boggling to think a property back then was under £2,000. Of course this was the equivalent to about £50,000 in today’s money, but still a darn site cheaper none the less.
"This said I don’t think today’s drivers will be to hard pushed to climb the property ladder, but if a British driver does win at Silverstone this weekend, we’ll happily sell their house for free."
There was a period when house prices veered off track. Prices dropped from £54,626 to £51,815 between Nigel Mansel’s back-to-back wins in 1991 and 1992.
The downturn continued in 1994 and 1995 when Damon Hill and Johnny Herbert took first place. By the time David Coulthard triumphed in 1999, prices had jumped around £20,000 to £71,000.
The longest gap in British winners then came between Coulthard’s victory in 2000 and Hamilton’s first win in 2008, during which house prices increased by 165 per cent.
It remains to be seen whether a British driver will be victorious this year, but average house prices have continued to rise with an increase of 2 per cent in the last 12 months.
Property prices closest to the track in the village of Silverstone have not fared so well in the past year. Although Zoopla’s Zed index currently shows that the average asking price for the area is £320,491, well above the national average, it has fallen by £11,863 - the equivalent of 3.57 per cent – since last July.
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