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That was the year that was…1996

by: Mortgage Solutions
  • 26/06/2015
  • 0

This year, Kensington celebrates its 20th birthday, so we are taking a look back at the years since launch in 1995. From Princess Diana’s divorce to Labour comfortably ahead in the MORI polls, it was an action packed year.

Round-up

Average house price: £55,093
Base rate at year-end: 6.5%
House Price Inflation: 8.5%
General inflation: 2.4%
Oscar Best Picture Winner: Braveheart
Best-selling album: Jagged Little Pill, Alanis Morissette
Must-have Christmas toy: Buzz Lightyear
Christmas number one: 2 Become 1, Spicegirls

Mortgage/housing market highlights 

This year marked the resurgence of the housing market, which would eventually lead to the UK property boom. Mortgage lenders became happier to lend and assessment criteria began to relax. The buy to let market was gaining traction after the term buy to let was coined the year before.
The Land Registry began collating national house price data this year, which is still considered a reliable, if not the most up-to-date index.

The year’s highlights

• 10 January – Terry Venables confirms his resignation as manager of the England national football team following the European Championships, later this year
• The first MORI poll taken in 1996 shows Labour still comfortably ahead of the Conservatives with a lead of 26 points

• 5 February – The first genetically modified food products go on sale in the UK and eight days later Take That, the most successful British band of the 1990s announce that they are splitting up

• The Football Association confirms Chelsea manager Glenn Hoddle will replace Terry Venables as England manager after the European Championships

• In May, Manchester United wins the FA Premier League title for the third time in four seasons and the FA cup for the ninth time after a 1-0 win over Liverpool

• On 28 August – The Prince and Princess of Wales are officially divorced after 15 years of marriage. The former Princess of Wales is no longer called Royal Highness

• In September, Ford launches its ‘revolutionary new Ka city car,’ with a shortened Fiesta chassis

• 53-year-old jockey Willie Carson is badly injured after being kicked by a horse at Newbury, Berkshire

• In October, racing driver Damon Hill wins the Japanese Grand Prix, clinching the Drivers’ World Championship

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