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Median house prices in London the median house now cost up to 12 times the median London salary. In 1995, the median house price was £83,000, 4.4 times the median income. By 2012–13, the median income in London had increased to £24,600 and the median London house price had increased to £300,000, 12.2 times median income [8]
Domestic real estate represented the largest non-financial asset in the UK, with a net worth of £5.1trillion (2014). [3] Foreign investment plays a substantial role in the UK's real estate market, particularly in London, and foreign companies and individuals invested around £20billion in UK real estate in 2012. [4] [needs update]
The history of English land law can be traced into Roman times, and through the Dark Ages under Saxon monarchs where, as for most of human history, land was the dominant source of social wealth. The start of an English law of real property , however, came after the Norman Invasion of 1066, when a common law was built throughout England.
His Majesty's Land Registry is a non-ministerial department of His Majesty's Government, created in 1862 to register the ownership of land and property in England and Wales. [3] It reports to the Ministry of Housing, Communities, and Local Government. [4] The registry contains 87% of land in England and Wales as of 2019. [5]
The value of land being eroded by the sea or other natural processes declines rapidly. Land in the centre of large cities may be very valuable, for example £7.2 million per hectare was cited for central London in 2016, [1] compared with around £2500 per hectare for grouse moors in Scotland. [2]
Delaware: fifty acres of land (twelve under cultivation) or £40 of personal property; Georgia: fifty acres of land; Maryland: fifty acres of land and £40 personal property; Massachusetts Bay: an estate worth 40 shillings annually or £40 of personal property; New Hampshire: £50 of personal property; New Jersey: one-hundred acres of land, or ...