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How has the UK housing market performed over the last 30 years?

Amid concerns that the UK housing market is on the verge of a possible downward spiral it is easy to lose track of how house prices have performed over the last 30 years. If you look back to 1975, figures provided by the Nationwide Building Society, show the average UK house was valued at around £66,000. However, there has been a very rocky ride over the last 30 years with peaks and troughs in 1978 and 1983 where house prices fell after significant rises in previous years.

However it was the late 1980s when we saw the most significant rise in the price of houses across the UK with an increase from around about £66,000 in 1983 to over £105,000 in 1990. We then saw a crash which saw prices fall to around £70,000 in 1995 and then perhaps the longest bull run in the UK property market from 1995 to 2007. This period saw UK house prices rise from £70,000 to a phenomenal £180,000.

Since then we have seen prices fall back to around about £145,000 with uncertainty as to the immediate direction of the UK housing market. It is easy to forget how prices have outstripped inflation over the last 30 years with substantial returns a plenty but severe dips and rises along the way.

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