Annual % Change in House Prices
House Price inflation in the UK 1970 - 2008
| Year | Annual % Change |
Average House Price |
| Q1 1970 | 5.6 |
4,378 |
| Q2 1970 | 6.0 |
4,452 |
| Q3 1970 | 6.6 |
4,508 |
| Q4 1970 | 6.3 |
4,582 |
| Q1 1971 | 8.3 |
4,741 |
| Q2 1971 | 10.3 |
4,908 |
| Q3 1971 | 16.3 |
5,244 |
| Q4 1971 | 20.7 |
5,533 |
| Q1 1972 | 26.7 |
6,008 |
| Q2 1972 | 33.6 |
6,557 |
| Q3 1972 | 41.0 |
7,395 |
| Q4 1972 | 42.4 |
7,880 |
| Q1 1973 | 39.8 |
8,396 |
| Q2 1973 | 34.7 |
8,832 |
| Q3 1973 | 24.2 |
9,183 |
| Q4 1973 | 24.0 |
9,767 |
| Q1 1974 | 18.2 |
9,928 |
| Q2 1974 | 13.5 |
10,027 |
| Q3 1974 | 10.5 |
10,148 |
| Q4 1974 | 4.5 |
10,208 |
| Q1 1975 | 4.6 |
10,388 |
| Q2 1975 | 7.0 |
10,728 |
| Q3 1975 | 8.2 |
10,978 |
| Q4 1975 | 10.6 |
11,288 |
| Q1 1976 | 10.9 |
11,519 |
| Q2 1976 | 9.4 |
11,739 |
| Q3 1976 | 9.3 |
11,999 |
| Q4 1976 | 8.2 |
12,209 |
| Q1 1977 | 7.7 |
12,409 |
| Q2 1977 | 8.1 |
12,689 |
| Q3 1977 | 8.1 |
12,970 |
| Q4 1977 | 7.7 |
13,150 |
| Q1 1978 | 11.4 |
13,820 |
| Q2 1978 | 14.2 |
14,491 |
| Q3 1978 | 22.7 |
15,912 |
| Q4 1978 | 27.9 |
16,823 |
| Q1 1979 | 28.7 |
17,793 |
| Q2 1979 | 31.6 |
19,075 |
| Q3 1979 | 28.7 |
20,485 |
| Q4 1979 | 30.6 |
21,966 |
| Q1 1980 | 27.4 |
22,677 |
| Q2 1980 | 22.4 |
23,348 |
| Q3 1980 | 15.3 |
23,628 |
| Q4 1980 | 7.0 |
23,497 |
| Q1 1981 | 4.6 |
23,730 |
| Q2 1981 | 3.2 |
24,098 |
| Q3 1981 | 2.4 |
24,188 |
| Q4 1981 | 1.3 |
23,798 |
| Q1 1982 | 1.9 |
24,177 |
| Q2 1982 | 2.4 |
24,679 |
| Q3 1982 | 3.2 |
24,969 |
| Q4 1982 | 7.5 |
25,580 |
| Q1 1983 | 8.8 |
26,307 |
| Q2 1983 | 11.0 |
27,386 |
| Q3 1983 | 12.8 |
28,175 |
| Q4 1983 | 11.9 |
28,623 |
| Q1 1984 | 12.8 |
29,675 |
| Q2 1984 | 12.6 |
30,833 |
| Q3 1984 | 10.9 |
31,254 |
| Q4 1984 | 13.7 |
32,543 |
| Q1 1985 | 11.9 |
33,200 |
| Q2 1985 | 10.8 |
34,174 |
| Q3 1985 | 11.0 |
34,700 |
| Q4 1985 | 8.9 |
35,436 |
| Q1 1986 | 7.4 |
35,647 |
| Q2 1986 | 8.3 |
37,015 |
| Q3 1986 | 10.2 |
38,251 |
| Q4 1986 | 11.7 |
39,593 |
| Q1 1987 | 14.7 |
40,882 |
| Q2 1987 | 16.1 |
42,987 |
| Q3 1987 | 16.2 |
44,434 |
| Q4 1987 | 12.0 |
44,355 |
| Q1 1988 | 10.3 |
45,091 |
| Q2 1988 | 13.8 |
48,932 |
| Q3 1988 | 22.3 |
54,352 |
| Q4 1988 | 29.1 |
57,245 |
| Q1 1989 | 32.0 |
59,534 |
| Q2 1989 | 27.2 |
62,244 |
| Q3 1989 | 15.5 |
62,782 |
| Q4 1989 | 7.4 |
61,495 |
| Q1 1990 | 0.1 |
59,587 |
| Q2 1990 | -5.2 |
58,982 |
| Q3 1990 | -8.8 |
57,245 |
| Q4 1990 | -10.7 |
54,919 |
| Q1 1991 | -8.5 |
54,547 |
| Q2 1991 | -6.0 |
55,418 |
| Q3 1991 | -4.1 |
54,903 |
| Q4 1991 | -2.3 |
53,635 |
| Q1 1992 | -4.3 |
52,187 |
| Q2 1992 | -5.0 |
52,663 |
| Q3 1992 | -4.8 |
52,243 |
| Q4 1992 | -6.5 |
50,168 |
| Q1 1993 | -3.9 |
50,128 |
| Q2 1993 | -1.4 |
51,918 |
| Q3 1993 | -1.0 |
51,746 |
| Q4 1993 | 1.8 |
51,050 |
| Q1 1994 | 2.4 |
51,327 |
| Q2 1994 | -1.1 |
51,362 |
| Q3 1994 | 0.0 |
51,731 |
| Q4 1994 | 2.1 |
52,114 |
| Q1 1995 | -0.5 |
51,084 |
| Q2 1995 | 0.5 |
51,633 |
| Q3 1995 | -0.8 |
51,334 |
| Q4 1995 | -2.3 |
50,930 |
| Q1 1996 | 0.6 |
51,367 |
| Q2 1996 | 2.7 |
53,032 |
| Q3 1996 | 5.2 |
54,008 |
| Q4 1996 | 8.3 |
55,169 |
| Q1 1997 | 8.6 |
55,810 |
| Q2 1997 | 10.1 |
58,403 |
| Q3 1997 | 12.5 |
60,754 |
| Q4 1997 | 12.1 |
61,830 |
| Q1 1998 | 12.7 |
62,903 |
| Q2 1998 | 11.7 |
65,221 |
| Q3 1998 | 9.2 |
66,366 |
| Q4 1998 | 7.3 |
66,313 |
| Q1 1999 | 7.3 |
67,478 |
| Q2 1999 | 7.3 |
70,010 |
| Q3 1999 | 9.0 |
72,362 |
| Q4 1999 | 12.6 |
74,638 |
| Q1 2000 | 15.1 |
77,698 |
| Q2 2000 | 16.0 |
81,202 |
| Q3 2000 | 11.8 |
80,935 |
| Q4 2000 | 9.4 |
81,628 |
| Q1 2001 | 8.1 |
83,976 |
| Q2 2001 | 7.9 |
87,638 |
| Q3 2001 | 12.5 |
91,049 |
| Q4 2001 | 13.4 |
92,533 |
| Q1 2002 | 13.6 |
95,356 |
| Q2 2002 | 18.1 |
103,501 |
| Q3 2002 | 21.7 |
110,830 |
| Q4 2002 | 25.3 |
115,940 |
| Q1 2003 | 25.8 |
119,938 |
| Q2 2003 | 21.1 |
125,382 |
| Q3 2003 | 17.1 |
129,761 |
| Q4 2003 | 15.5 |
133,903 |
| Q1 2004 | 16.9 |
140,225 |
| Q2 2004 | 18.4 |
148,462 |
| Q3 2004 | 18.3 |
153,482 |
| Q4 2004 | 13.9 |
152,464 |
| Q1 2005 | 9.0 |
152,790 |
| Q2 2005 | 6.1 |
157,494 |
| Q3 2005 | 2.7 |
157,627 |
| Q4 2005 | 3.2 |
157,387 |
| Q1 2006 | 4.9 |
160,319 |
| Q2 2006 | 4.8 |
165,035 |
| Q3 2006 | 6.9 |
168,460 |
| Q4 2006 | 9.3 |
172,065 |
| Q1 2007 | 9.5 |
175,554 |
| Q2 2007 | 10.2 |
181,810 |
| Q3 2007 | 9.3 |
184,131 |
| Q4 2007 | 6.9 |
183,959 |
| Q1 2008 | 2.2 |
179,363 |
| Q2 2008 | -4.0 |
174,514 |
Note: The average house prices are given for each quarter.
The house price inflation gives the annualised change over the past 12 months.
For example, if house prices increase 2% each quarter, the annual house price inflation will be 8%. House prices can fall in one quarter, but sill be higher than a year ago. Therefore, we have a negative monthly change, but annual house price inflation is still positive.
Nominal and Real House Price Inflation.
It is important to bear in mind the effects of inflation. For example, in the 1970s, the UK had periods of high inflation. Therefore, the real increases are not as spectacular as the figures suggest.
- UK House Price index 1974- 2008
- Why are House prices so expensive in the UK?
- Who is to Blame for the Housing Boom and Bust?
- UK Housing Market