Why would you expect the continued increase of prices above inflation (even if only a small amount)? Do you think that house prices can indefinitely rise in real terms?I am not expecting to see similar house price appreciation over the next 30 years as we have seen over the last 30 years. I think the price increases we have had were due to unique circumstances which I can't see being replicated over the next 30 years. Accordingly my investment strategy relies on steady growth slightly above inflation, not the dramatic doubling of house prices every 7 to 10 years.
You imply an expectation that the index in this chart will continue to rise infinitum?