Claims house prices have actually quadrupled considering that 1990 are about right

A graph shared on Facebook and Twitter shows average UK house prices quadrupling since 1990, while the average household income rose by about half. This is about right.

The graph gives its source as the Land Registry—a government department registering property and land ownership. The graph is correct that the Land Registry shows the average UK residential property price (including flats) was £57,726 in June 1990. 

According to the Land Registry, the equivalent figure for June 2020 is £234,947. The Facebook graph quotes a slightly higher figure of £237,834, which has also been reported by the government. (The differences are likely due to the way in which House Price Index data is updated as transactions are completed.) 

The graph also says the average UK household income for 2020 is £37,100. This is the correct figure for the mean UK disposable household income for the financial year ending April 2020, which means it also incorporates nine months of 2019. (The exact figure is £37,108.)

Meanwhile, the figure of £20,448, which the graph describes the average UK household income for 1990 appears to be slightly too low. The actual mean average figure for disposable household income 1990 is £24,415.

Using this set of figures, mean average household incomes in the UK have risen by about 52% in the past 30 years, while average house prices have risen by about 307%.

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