Estate agent Nested has conducted an analysis that revealed UK house prices had a strong performance in 2022 compared to other asset classes, despite a cooling property market.
According to the research, UK house prices surpassed Bitcoin and Ethereum, both of which experienced a significant decline in value.
Nested analysed house price data alongside the value of the top two cryptocurrencies and their annual returns.
The average UK house price sat at £285,396 in 2022, up 10.4% versus the average of £258,430 seen in 2021.
In contrast, Bitcoin and Ethereum experienced a year-on-year drop in value of 40.9% and 31.5%, respectively.
However, when comparing the average annual rate of growth seen over the last three years, UK house prices have trailed behind the alternative investment options, with an average annual increase of 7.4%, while Bitcoin has seen a 103% average annual increase and Ethereum has climbed by 263% on average each year.
Alice Bullard, managing director at Nested, noted that the UK property market brings a far more consistent return compared to the erratic offering of cryptocurrencies. She said: “the UK property market continues to be one of the best areas of investment available.”
