Figure 21: House price to earnings ratio for Great Britain
HPI and AWE, January 2004 to April 2016
Source: Office for National Statistics, Land Registry
The ratio in this chart is made up of the house price level, which is not yet seasonally adjusted due to an insufficient back-series, and the Average Weekly Earnings, which is seasonally adjusted. The ratio series shows an element of seasonality as a result of the seasonality in the house price series, but the broad trends in the movement of the ratio can nevertheless be seen.