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House price growth has outstripped income growth—but not by much

House price growth has outstripped income growth—but not by much

House price growth has outstripped income growth—but not by much29 March 2021What was claimed Average UK house prices rose roughly fourfold between 1990 and 2020. Our verdict This is not correct, because the income figure is inflation-adjusted, but the house price figure isn’t. (The differences are likely due to the way in which House Price Index data is updated as transactions are completed.) By comparison, in 2020, the average household income was £37,108 and the average house price was about £234,947. During the last 30 years, therefore, the average household income has tripled, but the average house price has quadrupled.

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