Gold, Frankincense and Myrrh
The Three Wise Men followed a star in search of the newborn king, giving gifts of gold, frankincense and myrrh. However, gifting a home may have been a better financial move.
The average price of a home is currently £291,385, a 65% increase in value compared to a decade ago (£176,097). The value of gold has risen 42% in the same period.
A price moderation is forecast over 2024, however cumulative growth of 5.8% is forecast between 2025 and 2027. Source: #Dataloft (https://inform.dataloft.co.uk/), ONS, uk.investing, LBMA. Indicative price performance only. Data to end Sep 2023, HM Treasury Average of Independent Forecasts Nov 2023.
Can this really be true!
Those of us that are of a certain age will remember this. Back in the day (possibly 35 – 40 years ago), gold was increasing at an alarming rate.
However, gold it seems, slowed right down. Now some years later, property has crept up behind it and not just overtaken it, it has shown gold a clean pair of heels.
A whopping 65% increase since 2013! Jukes Estate Agents Harlow checked that out against Harlow Property prices.
What happening in Harlow?
Well in Harlow, property has increased by 75.6% in the last 10 years. Therefore it has absolutely destroyed the meagre 42% increase in gold prices!