How much were houses in the 1980s, adjusted for inflation? I want to be sad, you see.
The average in 1980 was £19,273. In today’s money that is £105K. So prices have effectively tripled in one generation.
While pay has also functionally gone down.
That’s so depressing. I could afford that. The amounts for places worth having near me are high enough that it’s just not on the cards.
I know what you mean, the prices are high but you don’t even get a lot of house for that money. We had a budget of around 300 and the choices were either tiny new build shoeboxes with miniature gardens overlooked in all directions with poor access/no local amenities, or older OK-sized places in some pretty rough areas.
We eventually found a 3-bed ex council place and thankfully it’s a relatively quiet area with pleasant enough neighbours. Though it is jarring that we are two professionals with degrees working full time to afford the same house that our neighbours were given a few decades ago and only one of them works and it’s a minimum wage job.
Only £300,000?
Shit, I should move to the UK.
Yeah but then you have to deal with the stupidity of the UK government. Which is currently trying to out perform Florida for dumbest politician of the year.
The race is close!
are houses normally around £500,000 in california?
The average house in the US costs just under $400K, which is £295K. So they are basically the same price.
I only wish that was the case in my area. The average price for a house in my state is $660,000.
Same for here too though. You won’t find many £300K houses in and around London
Fair point! Grass is always greener, I suppose.
If you live in a “less desirable area” you can still get a house for less than £100,000 in some places in the UK. You might find yourself with limited job opportunities or a long commute, or poor local facilities though.
Yep, bought for £230k in a town in the south coast.
