House price inflation similar to other costs

Robyn Hall

October 13, 2014

Since 1974 average house prices have risen by 1879% from £9,927 to £286,544.

But as high as it is this actually stands less than the inflation of cinema tickets (2133%) and first class stamps (2067%), although it is still higher than weekly wages (1595%).

And it is a long way off the price of 20 cigarettes, which have increased by 4370% from 20p in 1974 to £8.74 today.

Russell Quirk, chief executive of eMoov.co.uk, said: “Across the UK it has been well documented the rise on property price, however when you look at other items it’s actually more in-line with other expenses than most would think.

“The internet was just an idea back in 1974, however with the growth of digital businesses, the good news for property sellers these days is selling property with an online agent has seen estate agency costs rise just 398% during this time period.“

Average weekly wages inflated from £32 to £517 per week over the last 40 years, while a pint of larger averages at £3.19 compared to 20p 40 years ago.

The smallest increase on eMoov’s table is for a flight to San Francisco, which has inflated by just 482% from £225 in 1974 to £1,084 in 2014.

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