Housing affordability
March 30, 2015
After a number of years of the housing market favouring buyers rather than sellers, there are now clear indications this spring that sellers are gaining the upper hand. Recent research is showing that Housing affordability has deteriorated to 2009 levels on the back of strong property price growth, according to Loyds Bank the average home in a British city now costs £195,107 or 6.1 times typical annual earnings before tax.
The group blamed the affordability deterioration on the strong house price growth seen during the past year, with average house prices rising by 7 per cent. The price growth has stalled more recently along with the sales market as the election looms ever closer, normally in the run up to Easter the market would be picking up as spring buyers make their appearance, such buyers are a little more cautious this year waiting for the outcome of election before commiting themselves.
It has been reported that Oxford is the least affordable city with the average house costing nearly 11 times typical local earnings, Greater London is the seventh least affordable city , this across the board figure however disguised considerable variation throughout the capital.
You May Also Enjoy
Building Safety Approval Process Urgently Needs Fixing
Bradley Lay, a Leading Construction M&A Expert Calls on Government to Urgently Fix Building Safety Approval Process as Insolvencies Surge A leading UK construction expert has called on the Government to urgently reassess the Building Safety Regulator (BSR) approval process, warning that delays in the current system are “slowly killing the economy”, triggering thousands of…
Read More 
Kickstarting Private Housebuilding is Key to Sector-Wide Recovery
Starts on-site decline by 9% during the three months to January 2026, remaining 16% below 2025 levels Residential construction starts fell by 24% on the preceding three months and 32% against 2025 figures Non-residential project-starts increased by 6% against the preceding three months, finishing 7% up on a year ago Civils work starting on-site remained…
Read More 
Building the Wrong Homes Won’t Fix Homeownership
For many years, the national discussion about affordable housing has focused on one appealing idea that simply building more houses will make it easier for first-time buyers to own a home, and the issue will fix itself. However, Propertymark’s member agents, working daily in local housing markets across the UK, see a far more complex…
Read More 
Compliance uncertainty leaves lift fire safety exposed in property sector
As the FM industry continues to adjust to an evolving regulatory landscape, new research indicates that widespread uncertainty and fragmented record-keeping could be undermining lift fire safety compliance, weakening building fire strategies. Last month, the Building Safety Regulator (BSR) became a standalone public body, separating from the Health and Safety Executive to provide a more…
Read More 
London rent affordability improves
The latest research by London lettings and estate agent, Benham and Reeves, reveals that the average London renter is spending 50% of their income on rent each month. However, the good news is that strong wage growth in the capital means that this proportion has actually reduced since 2024. Bennham and Reeves has analysed average…
Read More 
Liverpool leads as busiest estate agency markets
Liverpool, Bradford and Leicester lead as Britain’s busiest estate agent markets in 2026 The latest research from eXp UK has revealed that Liverpool, Bradford and Leicester are currently the busiest markets for Britain’s estate agents when it comes to the estimated number of homes listed for sale per agent in 2026. eXp UK analysed the…
Read More