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
Property sitting on the market? Experts reveal top tips to unlocking property sales
Many homeowners understand the frustration of properties sitting on the market for extended periods of time with no sale on the horizon. Leading estate agency group, Beresfords, has released advice to help sellers take control of their sales journey. With the average time from initial marketing through to a successfully agreed offer now standing at…
Read More 
Demand for Coastal Living Remains Remarkably Resilient
Coastal house prices fall by as much as 38%, but seaside hotspots still command premiums of up to 76% The latest research by Yopa has revealed that house prices across some of the nation’s most popular seaside hotspots have fallen by as much as -38% over the last year. However, many continue to command…
Read More 
Buyer demand bounces back after May heatwave
New real-time analysis from the UK’s largest property platform Rightmove reveals that buyer demand has bounced back after a temporary dip due to the May heatwave during the school holidays Starting on May 22nd, buyer demand dropped by 8% over the course of the heatwave week, as potential buyers held off from booking viewings to…
Read More 
Breaking Property News 11/6/26
Daily bite-sized proptech and property news in partnership with Proptech-X. Leasing decisioning platform set to scale with new injection of investment Findigs, the AI-native leasing decisioning platform that helps residential operators across the U.S. improve revenue and grow their bottom line, announced that it closed a $32 million Series C funding round led by…
Read More 
Cost of void periods climbs by as much as 53% for landlords
Landlords face growing pressure on profits as the cost of void periods climbs by as much as 53%. The latest research by property management specialist, Rushbrook & Rathbone, has found that the average cost to landlords as a result of void periods between tenancies has climbed by as much as 52.9% across some areas…
Read More 
Lack of Supply Keeps Upward Pressure on Rents
More ‘affordable’ areas see rents rise two times faster than the national average Rents are rising 5% on average in more affordable areas where rents are below £750pcm – over twice the national average of 2.1% Regionally, Carlisle (+9.1%), Kilmarnock (+9%) and Halifax (+6.5%) are among the fastest-rising markets where rents are rising quickly…
Read More