UK house prices:the cost of a single brick of a London home has now reached £118 - and is predicted to rise to £150 by 2020

Across the UK, the cost of single brick has increased 33 per cent in the past decade, with further growth of 25 per cent predicted by 2020...

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The cost of a single brick on a London home has increased by 65 per cent to over the last 10 years to reach £118.

This is expected to rise to £150 by 2020, according to new research by Barclays Mortgages and the Centre for Economics and Business Research.

The study calculates the value of a single brick found in typical homes across the UK, to reveal the difference in property prices.*

Overall, the average per brick cost in inner-London boroughs has risen faster than in the outer edges of the capital.

In Kensington and Chelsea and Westminster, the cost per brick has more than doubled during the past decade, rising to £477 and £362, respectively.

Yet every borough has seen growth of at least 30 per cent. Plus, the most affordable areas of the capital - including east London's Barking and Dagenham and south London's Croydon - are expected to see some of the strongest rises over the next four years.

“Our latest research shows that the average house price is increasing at a considerable rate in the UK," says Raheel Ahmed, head of Barclays Mortgages.

"There is still great disparity in the capital with bricks in Kensington and Chelsea costing four times as much as London as a whole.

"However it is particularly encouraging to see there are still more affordable areas for buyers such as Barking and Dagenham, Croydon and Newham.”

The regional picture
Nationally, the figures reveal that the cost of single brick has increased 33 per cent in the past decade to £47.44. 

This is more than 50 times higher than the price of a brick from a DIY shop, which costs on average 89p.

“It is fascinating to see just how valuable each brick that makes up a home works out to be, and how this can change over time," says Sarah Beeny, UK property expert.

"It really shows that property can be a great investment, and I would encourage people to get on the property ladder as soon as they can, even if this means looking in a new area where those all-important bricks are a little more purse-friendly!”  

Of course, the cost of bricks varies significantly across the UK, with Oxford (£95.50) and Cambridge (£91.60) home to the second most expensive bricks in Britain after London.

Meanwhile the cheapest bricks can be found in Belfast (£22.09), Glasgow (£22.55) and Liverpool (£25.87).

“It is particularly interesting to see the regions and cities outside of London which are experiencing significant growth in house prices," says Ahmed.

"While a North-South divide does remain, cities such as Sheffield, Nottingham and Leicester are experiencing strong growth, and this is forecast to continue through to 2020. “It is also encouraging to see cities that have slowed down in growth, such as Belfast, showing signs of recovery in the future.”

*More on how the cost was calculated: utilising data on average floor size, floor height (2.5m) and the composition of property stock from sources, including the Census and the English Housing Survey, the Cebr calculated an average number of bricks found in a property within each of the areas analysed.

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