>But what you are saying would imply that property prices in lower demand areas went down.
No only that they didn't go up as much. As wages and population increases, it is quite normal that house prices generally go up at least a little.
No only that they didn't go up as much. As wages and population increases, it is quite normal that house prices generally go up at least a little.
But that is not true for parts of the UK.
Wages in general in the UK in real terms have gone nowhere or down, yet pretty much everywhere in real terms property value has gone up.