Hello marc2.,
I have found much of what you seek, but there are lacunae where is
seems the data is just not available. I hope nevertheless that this
answer satisfies your requirements. Please ask for further
clarification if necessary.
Average UK house prices from 1970 in UK£ are as follows:
1970 4,975
1971 5,632
1972 7,374
1973 9,942
1974 10,990
1975 11,787
1976 12,704
1977 13,650
1978 15,594
1979 19,925
1980 23,596
1981 24,188
1982 23,644
1983 26,471
1984 29,106
1985 31,103
1986 36,276
1987 40,391
1988 49,355
1989 54,846
1990 59,785
1991 62,455
1992 61,336
1993 62,333
1994 64,787
1995 65,644
1996 70,626
1997 76,103
1998 81,774
1999 92,521
2000 101,550
2001 112,835
Source: Table 502 (prices from 1930 onwards) from Live Tables in the
Housing Statistics Section of the Office of the Deputy Prime Minister:
http://www.odpm.gov.uk/stellent/groups/odpm_control/documents/contentservertemplate/odpm_index.hcst?n=1575&l=3
(In case of problems, the path to follow from the home page
http://www.odpm.gov.uk is: Home > Housing > Housing statistics > Live
tables )
I found data for 2002 and 2003 (up to June) on the Land Registry web
site.
http://www.landregistry.gov.uk./publications/default.asp?pubtype=0
These figures are quarterly:
Jan-Mar 2002: 121,881
Apr-Jun 2002: 133,247
Jul-Sep 2002: 146,150
Oct-Dec 2002: 145,251
Jan-Mar 2003: 145,897
Apr-Jun 2003: 149,935
With respect to mortgage rates, it is not so easy to find actual
figures for your period of interest.
I have found a reply to a parliamentary question by Andrew George on
this topic, reported by Hansard on 20 January, 2003. He asked about
the average mortgage rate since 1978.
The reply, made on behalf of the National Statistician was:
“The rates shown in the attached table are currently compiled by the
Financial Services Authority (and previously Building Societies
Commission). They are average rates for mortgages with Building
Societies. Comparable figures prior to 1984 are not available….
Year Average Rate2 Basic Rate3
1984 12.19 11.88
1985 13.01 12.75
1986 12.32 12.30
1987 10.34 10.30
1988 12.75 12.77
1989 14.44 14.42
1990 14.34 14.48
1991 11.39 11.52
1992 8.98 8.98
1993 7.94 7.99
1994 7.84 8.14
1995 7.48 7.98
1996 6.51 7.00
1997 7.58 8.16
1998 7.29 7.75
1999 6.49 6.88
2000 6.65 7.31
2001 5.17 5.34
1 The average rates are based on information provided by Building
Societies. The figures reflect rates at the end of the year.
2 These data represents the weighted average of individual reporters'
own weighted average rates on their overall residential loan book.
3 These data represents the weighted average of the individual
reporters' standard variable (headline) rate applying to the majority
of mortgage accounts at the end of reporting period.”
http://www.parliament.the-stationery-office.co.uk/pa/cm200203/cmhansrd/cm030120/text/30120w13.htm
Monthly figures are available from the Bank of England, but only from
1998 onwards. The figures for 2002-2003 are:
31 Jan 02 5.66
28 Feb 02 5.66
31 Mar 02 5.65
30 Apr 02 5.65
31 May 02 5.66
30 Jun 02 5.66
31 Jul 02 5.65
31 Aug 02 5.66
30 Sep 02 5.65
31 Oct 02 5.66
30 Nov 02 5.64
31 Dec 02 5.64
31 Jan 03 5.64
28 Feb 03 5.63
31 Mar 03 5.49
30 Apr 03 5.51
31 May 03 5.5
30 Jun 03 5.49
31 Jul 03 5.49
31 Aug 03 5.32
“Monthly average weighted interest rate, standard variable mortgage,
Banks & Building Societies” Updated: 29 Sep 2003
Accessed through the Bank of England Interactive Database
http://213.225.140.30/mfsd/iadb/NewInterMed.asp?Travel=NIxIRx
A chart showing real and nominal mortgage rates plotted against
inflation for the period 1961-2001 is available at:
http://www.camecon.co.uk/whatsnew/releases/houseprices.htm
Cambridge Econometrics Press Release, 14th May, (updated 31st May
2001)
It is possible to access the data compiled by Cambridge Econometrics,
but this requires a paid subscription.
Another chart showing pre-tax and post-tax mortgage rates 1969-2002 is
available at:
http://ess.ntu.ac.uk/economics/discussionpapers/applied/2003/2003_2.pdf
Report by Dean Garratt from Nottingham Trent University
Page 8 of the document, page 9 of the pdf file.
The authors that the data are compiled from two sources, plus his own
calculations.
Since movements in the mortgage rates usually reflect movements in the
Bank of England base rate, you might wish to look at base rate data.
An Excel file with all the changes from March 1970 until the present
is available on the Bank of England web site:
http://213.225.140.30/mfsd/rates/baserates.xls
Household income data
“Household income is derived not only directly from economic activity
in the form of wages and salaries and self-employment income but also
through transfers such as social security benefits. It is then subject
to a number of deductions such as income tax, local taxes, and
contributions towards pensions and national insurance. The amount of
income remaining is referred to as household disposable income”
Unfortunately, the figures are only given as income per head in values
relative to a baseline of 100 in 1971.
1971 100.0
1972 108.1
1973 114.7
1974 113.6
1975 114.5
1976 114.0
1977 111.8
1978 120.1
1979 126.7
1980 128.6
1981 127.9
1982 127.7
1983 130.6
1984 135.0
1985 139.2
1986 144.8
1987 150.5
1988 158.0
1989 164.7
1990 169.8
1991 172.2
1992 176.8
1993 181.9
1994 184.1
1995 188.2
1996 192.0
1997 199.7
1998 198.2
1999 205.4
2000 213.8
2001 227.8
From: Real household disposable income per head and gross domestic
product per head 1971-2001: Social Trends 33
Accessed from: http://www.statistics.gov.uk/STATBASE/Product.asp?vlnk=5748
I have also found hard figures from the National Statistics Office on
disposable weekly household income for the following years:
Year Current price Constant price
1970 28 261
1980 115 293
1990 258 356
1995-96 307 356
1996-97 325 367
1997-98 343 376
1998-99 371 394
1999-2000 391 409
2000-01 409 415
2001-02 447 447
Source: “Income and source of income 1970 to 2001-02: Expenditure and
Food Survey (Revised September 2003)”
Accessed from (select “family spending”):
http://www.statistics.gov.uk/statbase/explorer.asp?CTG=3&SL=&E=4678#4678
Search strategies:
"average mortgage rate" UK
“base rates” mortgage
historical “mortgage rates”
historical “mortgage interest rates”
UK statistics
“average household income” UK
UK household income historical
“household income” statistics |
Clarification of Answer by
tehuti-ga
on
19 Oct 2003 14:08 PDT
Hello marc2,
As I mentioned, there are lacunae in the official data supplied by the
UK government. I have not, however, managed to find any other source
that cites any sort of annual household income data for the period
that you required, let alone disposable as opposed to gross income.
The other official household disposable income data I have been able
to find gives median and percentile figures, but not mean figures.
Furthermore, data has been adjusted to 2001 prices on the basis of the
retail prices index. Also, the data is not entirely comparable from
year to year, because data from 1993/94 onwards are for financial
years, and data for 1994/95 onwards does not include Northern Ireland,
while figures for earlier years do.
It is possible that if you direct a specific request to the National
Statistics Office, they might provide you with the actual figures you
need.
In the meantime, here are the median values for the adjusted income
data in £ per week:
1971 177.73
1972 188.07
1973 198.02
1974 198.91
1975 195.12
1976 187.22
1977 184.21
1978 201.33
1979 205.37
1980 206.88
1981 200.10
1982 195.92
1983 203.77
1984 207.29
1985 215.07
1986 224.43
1987 234.71
1988 251.27
1989 254.27
1990 257.07
1991 257.84
1992 256.93
1993/94 263.87
1994/95 264.08
1995/96 262.55
1996/97 267.45
1997/98 271.52
1998/99 276.40
1999/00 283.74
2000/01 292.96
If you would like to see the percentile figures as well (10th, 25th,
75th and 90th), the table is available in Excel format at:
http://www.statistics.gov.uk/STATBASE/Expodata/Spreadsheets/D6250.xls
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