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Rent or buy? The challenge of access to housing

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Figure 4 is a line chart. The horizontal scale shows years from 1979 to 2017 in quarterly (three-month) intervals. A line traces the real house price starting around £90,000 in 1979, rising to a peak of about £150,000 in 1990, falling to a trough of around £90,000 in 1996. After that, the line rises fairly consistently and steeply to a peak of nearly £240,000 in 2007, falling to £170,000 in 2013 and recovering to around £210,000 since then. The chart also shows a straight line labelled ‘Trend’ which rises from £80,000 in 1979 to £220,000 by 2017.

 2.3 Homes as investments