House price to income ratio in the UK 2012-2023, per quarter
The house price ratio in the United Kingdom (UK) increased slightly in the third quarter of 2023, after falling for three consecutive quarters. The ratio measures the development of housing affordability and is calculated by dividing nominal house price by nominal disposable income per head, with 2015 set as a base year when the index amounted to 100. The UK's index score in the third quarter of 2023 amounted to 113.7, which means that house price growth has outpaced income growth by 14 percent since 2015. This was close, but still lower than the Euro area 16 average.
