Isn't the massivly rising house prices a reflection of large demand for housing? There were many ways to build upwards at the time but London favoured single f

Isn't the massivly rising house prices a reflection of large demand for housing? There were many ways to build upwards at the time but London favoured single family houses. Cities like Paris built upwards around that time. Even to this day Paris is more densly populated than New York because almost all buildings in Paris are around 7 stories rather than a very tall core surrounded by a lot of single family dwellings.