🏠𝕃𝕚𝕟𝕔𝕠𝕝𝕟 ℍ𝕠𝕦𝕤𝕖 ℙ𝕣𝕚𝕔𝕖𝕤 𝕒𝕣𝕖 £𝟛𝟛,𝟘𝟝𝟡 𝕔𝕙𝕖𝕒𝕡𝕖𝕣 𝕥𝕠𝕕𝕒𝕪 𝕥𝕙𝕒𝕟 𝕚𝕟 𝟚𝟘𝟘𝟟

For anyone trying to buy a home in Lincoln today, that headline probably sounds ridiculous.

Lincoln house prices are higher, deposits involve larger sums of money, mortgage payments can feel substantial, and household finances are being squeezed by the wider cost of living.

It is therefore understandable that many Lincoln people look back at the last few decades and conclude that buying a home must have been considerably easier then.

Yet when inflation is considered, Lincoln house prices tell a rather different story.

Back in 2007, the average Lincoln home cost £123,987.

Today, in 2026, the equivalent average price is £183,298.

That is an increase of £59,311, or 47.8%, so in straightforward pounds and pence, Lincoln property has clearly become more expensive.

The problem is that £123,987 in 2007 is not the same amount of money as £123,987 today.

Inflation has increased by 74.5% over that period.

Food, cars, energy, building materials, services and almost everything else we buy cost considerably more than they did nearly two decades ago.

Therefore, if we want to make a proper comparison between Lincoln house prices in 2007 and 2026, We have to translate that old £123,987 figure into today's money.

When we do that, it becomes £216,357.

Compare that with today's actual average Lincoln house price of £183,298 and the picture changes considerably.

In inflation adjusted terms, the average Lincoln home today is £33,059 cheaper than it was in 2007, equivalent to a fall of approximately 15.3% in real terms.

That may sound contradictory, but it is simply the difference between what economists call nominal and real prices.

The nominal price is the number on the price tag.

If a home increases from £200,000 to £300,000, its nominal value has risen by £100,000.

A real price asks a different question.

Once inflation is taken into account, what is that money actually worth? An easy way to understand this is to think about what one pound buys.

Back in 2007, one pound would buy six Cadbury Freddo bars.

Love those.

Today, the same one pound would buy only around two and a half bars.

It is still a pound coin, and the £1 stamped on it has not changed, but its purchasing power has changed.

That is essentially what inflation does, and it is why comparing a 2007 house price directly with a 2026 house price can be so misleading.

That distinction matters.