As you might have seen in the property section of your local newspaper or in the window of an estate agency, property prices are pretty high at the moment, and have been for some time. However, this infographic illustrates clearly that there was a time when homes nationwide were much more affordable, even in wealthy areas such as London. Back in 1991, the average house price in the UK hovered around the £100,000 mark, although prices today are more than twice that amount.
The regional differences are even more staggering. Although every region has experienced rapid rises until the boom ceased in 2007, in London, the South West and South East, prices have risen more than twice as much; other areas including Scotland have experience more modest price movements. As for the price of different-sized homes, the difference between terraced homes and semi-detached houses is on average over £25,000, despite the fact that the size difference is, in most cases, small.
Infographic from Emortgagecalculator.co.uk