Whatever you view on house prices going forward, I was comparing them in London when I graduated and moved darn sarf.
My first salary in 1991 was £14.5k per annum. Back then with 4x my salary plus a large £20k deposit I could have comfortably bought a 2-bed terrace in Wimbledon for £80k.
Recent similar graduates are now starting on £35k, and with a similar 4x income plus a large £50k deposit (pro-rated with inflation), they have the equivalent of £190k. Except those same terraces in Wimbledon are a cool £1 million pounds.
Just puts the madness into perspective especially in London.
Although I graduated in 1991 and interest rates were higher, by end of 1993 interest rates were equivalent of today (~5%+).