IF A Briton had bought a house in 1975, by 2006 that happy homeowner would have an asset worth over 14 times more. Since the mid-1990s an increasing population, supply shortfall and low interest rates have all contributed to the steep increase. Newly-flush Brits have also pushed up prices by buying properties in neighbouring countries, such as France. Germany and Japan, by contrast, have experienced relatively modest increases.

AFP