Comment on Average price of a home falls by £14,000 in a year
tal@kbin.social 1 year agoBut that's nominal prices. Inflation has been severe since the COVID-19 pandemic started. Can't disregard that.
https://www.in2013dollars.com/uk/inflation/2020?amount=100
£100 in 2020 is equivalent in purchasing power to about £125.60 today, an increase of £25.60 over 3 years. The pound had an average inflation rate of 7.89% per year between 2020 and today, producing a cumulative price increase of 25.60%.
That's a decrease in real terms.
merridew@feddit.uk 1 year ago
Average wages haven’t gone up by 25% since 2020, and I doubt people have been getting 25% returns on cash held over that period.
Housing affordability is lower than at any time pre-2020.
www.ons.gov.uk/…/2022
tal@kbin.social 1 year ago
That may be true, but affordability is a different matter from whether house prices are rising.