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Inflation-Adjusted UK Income and Property Values
Data Science and Analytics
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About
Average UK house prices and median salaries over several decades, adjusted for inflation, are provided to investigate the historical relationship between earning potential and property costs. The purpose of this data is to determine objectively whether the sentiment that buying a house is increasingly difficult for younger generations is substantiated by financial metrics. The collection also includes auxiliary data on the UK wage gap, broken down by age groups.
Columns
- Year: The specific annual period covered by the metrics.
- Average House Price: The average UK house price for that year, adjusted for inflation up to the year 2020.
- Median Wage: The median UK wage for that year, adjusted for inflation up to the year 2020.
- Wage Gap Metrics: Data detailing the wage gap in 2021 across various age demographics in the UK.
Distribution
The core data files are typically structured as time series data, often delivered in a CSV format. The primary time series includes data points spanning from 1975 (for house prices) and 1999 (for salaries) through to 2020. Additionally, a separate table detailing the 2021 wage gap is included. Specific counts for rows or records are not detailed in this description.
Usage
This data is perfectly suited for economic research and analysis focused on long-term trends in housing affordability. It can be utilised for constructing historical economic models, comparing the rate of inflation-adjusted property growth against earnings growth, and creating analytical reports on intergenerational wealth disparities. It also supports visualisations that highlight economic pressures faced by UK residents.
Coverage
The data is geographically focused on the United Kingdom. Average house price figures cover the period between 1975 and 2020. Median wage data covers the period between 1999 and 2020. All monetary values have been adjusted for inflation up to 2020. The dataset also includes a specific snapshot of the wage gap for 2021, analysed by age group.
License
CC0: Public Domain
Who Can Use It
- Economic Researchers: To conduct rigorous, inflation-adjusted analysis of UK housing and labour markets.
- Public Policy Analysts: To inform governmental strategies regarding housing supply, taxation, and income support.
- Data Journalists: For developing factual, high-impact stories concerning the UK cost of living and property ownership crisis.
- Financial Planners: To understand the historical context of long-term investment returns versus earning capabilities in the UK.
Dataset Name Suggestions
- UK Housing Affordability Index (1975–2020)
- Inflation-Adjusted UK Income and Property Values
- UK House Prices vs Median Salaries (Historical)
- Generational Wealth Data UK
Attributes
Original Data Source: Inflation-Adjusted UK Income and Property Values
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