Gold, Frankincense and Myrrh
As the story goes, one of the wise men gave the gift of gold but gifting a home might have been more financially prudent.
The average price of a house in the UK is currently £294,559, this is a 73% increase in value compared to 10 years ago (£170,295). In comparison, the value of gold has risen by 37% over the same period.
While price correction is anticipated in the property market over the course of 2023 and 2024, the Office for Budget Responsibility anticipate price growth will return from 2025.
Source: Dataloft, UK HPI, LBMA (September 2012 to September 2022)
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