Recent statistics show that house prices across the UK are rising at a surprising rate. Though the figures vary from region to region, the average house price was £3,920 in 1970, but today, that figure has risen to an alarming £224, 674!
This is great news if you’re a homeowner looking to sell your house, but it’s getting more and more difficult for those trying to make that first step onto the property ladder.
In light of the meteoric rise in house prices across the UK, we thought we’d apply the inflation we’re seeing in the housing sector to everyday household products, such as a loaf of bread, a bottle of wine, cinema tickets and the average weekly wage. The results were eye-opening, to say the least!
Though the increase in house prices might not seem very surprising, and may even be expected, can you imagine ordering a pint at your local pub and being asked to front up £11.46 for it? Or enjoying your Sunday roast to the tune of £24.65 for a whole chicken?
Here’s just how expensive some of the most common everyday items would be if their prices rose at the same rate as housing costs do: