House Prices Rose £92,000 During the Years Young Renters Gave Up
While renters resort to £10 decorating tricks, house prices climbed nearly £140,000 in five years. The data shows exactly when homeownership slipped beyond reach.
Key Figures
Young renters are turning to £10 decorating tricks to make rented rooms feel like home, but the harsh truth is in the numbers: while they've been perfecting budget makeovers, house prices have been climbing steadily out of reach.
In 2017, the average UK house price sat at £1.32 million. Fast-forward to 2021, and that figure had jumped to £1.46 million — an increase of nearly £140,000 in just five years (Source: Office for National Statistics, House prices by local authority).
But this wasn't a steady climb. The timeline tells a story of false hope followed by brutal reality.
From 2017 to 2019, prices drifted sideways. They rose £18 million in 2018, then actually fell back £12 million in 2019. For two years, it looked like the market might be cooling. Young adults finishing university or starting careers could still dream of eventual homeownership.
Then 2020 happened. Prices surged by £40.6 million in a single year — the biggest jump in the dataset. The pandemic, stamp duty holidays, and remote working combined to create a perfect storm for buyers with cash and credit.
2021 doubled down. Another £91.8 million increase — a 6.7% rise that represented the final nail in the coffin for many aspiring homeowners. In two years, the average house price rose by more than £130 million.
The cruel mathematics are simple: if you were saving £200 a month for a deposit throughout this period, house prices were rising faster than your savings pot. Every year of careful budgeting was undone by market forces beyond your control.
This explains why an entire generation has turned to making rented spaces feel permanent. When homeownership becomes mathematically impossible, you invest in making temporary feel like forever — even if it's just £10 at a time.
The 2017-2021 period wasn't just a housing boom. It was the moment when renting shifted from a stepping stone to a lifestyle. Those decorating tips aren't about choice — they're about adaptation to a market that priced out an entire cohort.
For property owners, those five years delivered windfall gains. For renters, they delivered a harsh lesson in compound disappointment: every month you wait, the dream gets more expensive.
This story was generated by AI from publicly available government data. Verify figures from the original source before citing.