UK house prices haven't risen as much as you think

In cash terms, the average home in England and Wales has risen roughly fivefold since 1995. It is the number every headline reaches for — and it is deeply misleading.

The 2007 ceiling

Adjust those same prices for inflation using ONS CPIH and a very different picture appears. Much of the "growth" simply tracked the falling value of money. In real terms, prices in many areas have still not decisively cleared their 2007 peak.

Why it matters

If you are comparing what a home sold for a decade ago with today, the cash figure flatters the past owner and misleads you. The honest comparison is in today’s money. Every area page here shows both — explore your area, or try the real-terms calculator.