Zero Growth in House Prices Over Last 20 Years
Updated: Aug 24, 2022
Few commentators focus on real (inflation-adjusted) house prices which measure the true growth in the value of property values. In many ways this is unsurprising as this would lead to media headlines along the lines of:
BREAKING NEWS: ZERO GROWTH IN UK HOUSE PRICES OVER THE LAST 20 YEARS!
... such a headline would be anathema to the prevailing narrative that the UK property market has been on a tear for the last two decades. Except it hasn't!
The chart below shows Real UK House Prices since 1984 courtesy of data from Nationwide. Regardless of what you think of UK house prices, the fact is that pound for pound, prices are unchanged on a 20 year view:
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