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House values leap into hyperspace since Star Wars premiere

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  • 16/12/2015
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House values leap into hyperspace since Star Wars premiere
The Star Wars franchise might be one of the most successful movie franchises in history – but even its success dwarfs in comparison to the 2519% growth in house price since its initial release in May 1977.

Star Wars may have generated $4.4bn since the first film, A New Hope, was released in the late 70s, but the UK housing stock value has grown greater than Jabba the Hutt – leaping from £194.4bn to today’s figure of £5.1trn.

Back in 1977, the average house cost £13,650 – a fraction of today’s average price of £287,000. House values have increased by 767% for those who bought their home when The Empire struck back in 1980 compared to today, and by 566% for those who waited until the Return of the Jedi in 1983.

While The Phantom Menace did introduce us to Jar Jar Binks, it was good news for homebuyers in 1999, whose homes have increased in value by 170%, followed by 93% when Attack of the Clones was released.

Perhaps Anakin brought price growth with him to the dark side, as the past ten years since Revenge of the Sith has seen prices grow a modest 26%.

Craig McKinlay, mortgage director at Halifax, said: “For Star Wars fans the promise of a new trilogy means the circle is now complete. Box office receipts are likely to cement the franchise’s place as one of the most successful series of all time.

“However, it’s no Jedi mind trick to say even the returns here have been dwarfed by increases in the value of UK housing stock.”

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