UK House Price Update and Attempts to Model it...

I haven't update my UK house price graph for a while, but this time, I thought I'd also include my attempt at modelling it. I've previously mentioned that I found an interesting correlation between the population and house prices. In a very simplistic way, this makes sense. The UK is a fixed size, but its population is increasing, therefore prices go up. This is certainly the headline that's repeated endlessly on mainstream media. However, the subtlety that not everyone buys houses is lost in the noise. I doubt anyone under the age of 18 or over the age of 75 is buying houses for example. These days, it's also safe to assume that very few people under the age of 30 are either. (The average age of a first time buyer is now 30, compared with 23 in the 1960's.) The other major factor in house prices is how much people are able to pay. Note that this is different from how much they are willing to pay. Unlike almost everything else we buy (with perha