UK house prices are not overvalued?

[DimPrawn]

How house prices have risen 43-fold since 1971 - Telegraph

A carton of milk would set a family back by £10 and a roast chicken would have a £51 price tag if food costs had risen in line with house price increases over the last 40 years, research by Shelter has found.

The charity said that the typical value of a house had increased by just over 43 times since 1971, from £5,632 to £245,319.

If a family's weekly shop had increased at the same rate, it would now stand at £453, which is six times the actual figure of around £75.

Applying the house price rate of inflation to everyday food and drink items means that a bunch of six bananas would cost £8.47, a four-pint carton of milk would cost £10.45 and a leg of lamb would be £53.18, Shelter said.


I'm sure AtW has some comment?

[vetran]

Average wage = £25k
Average mortgage multiplier = 2.5
Average mortgage on average house = £249

[doodab]

I'd be interested in wage growth over the same period.

[MarillionFan]

I'd be interested in wage growth over the same period.

And what about the cost of beer? And train travel? And what about the cost of M&Ms?

This thread is useless without the real facts.

[DimPrawn]

I'd be interested in wage growth over the same period.

If paying £50 for a leg of lamb wouldn't make you wince, your wage growth has been good.

HTH BIDI

[DimPrawn]

And what about the cost of beer? And train travel? And what about the cost of M&Ms?

This thread is useless without the real facts.

How much was a blow job in 1971?

That's what I'm thinking.

[MarillionFan]

How much was a blow job in 1971?

That's what I'm thinking.

Well your mum used to charge 2p? How much does she charge now?

[sasguru]

Well your mum used to charge 2p? How much does she charge now?

She raised her price because it's better when she removes her dentures.

[Mich the Tester]

Yes houses are overvalued, and they are here in NL too. It's a bit worrying and very difficult for new buyers who'll find that once they've made the monthly mortgage payment they can't even afford a bog standard Lafite Rothschild to drink with their leg of organic local breed leg of lamb.

And how on earth they're going to fuel up the Aston is a mystery to me.

[northernladuk]

Not sure the comparison of limited stock such as housing can really be compared with milk and chicken which we can now import from Europe so increasing the availability works. Very flawed. You can make figures show anything you want as long as you ignore all the other factors.