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
Breaking Property News – 07/12/23
Daily bite-sized proptech and property news in partnership with Proptech-X. Blend of short-tail and long-tail lead generation strategies is crucial for estate agents In the ever-evolving estate agency sector, the game-changing role of digital marketing is more evident than ever. Recognising the significance of a well-rounded approach, today’s estate agents are urged to embrace…
Read More 
Enhance Your Home’s Curb Appeal With These Simple Upgrades
Recognizing the significance of curb appeal is universal among the majority of homeowners, whether you’re in the market to sell, rent, or simply create a lasting impression for your family and guests. Investing in your home’s curb appeal not only pays off aesthetically but also adds tangible value to your property. Fortunately, there’s no need…
Read More 
Navigating the Realm of Real Estate: A Comprehensive Guide to Property, Land, and Home Deco
Real property, encompassing land, buildings, and other tangible assets, is a dynamic and multifaceted region that performs a pivotal position in shaping our dwelling environments and influencing economic growth. Understanding the intricacies of actual estate is essential for people in search of to put money into assets, acquire their dream houses, or honestly stay knowledgeable…
Read More 
Rightmove’s weekly mortgage tracker – 06/12/23
The average 5-year fixed mortgage rate is now 5.11%, down from 5.36% a year ago The average 2-year fixed mortgage rate is now 5.52%, down from 5.61% a year ago The average 85% LTV 5-year fixed mortgage rate is now 5.20%, down from 5.37% a year ago The average 60% LTV 5-year fixed mortgage rate…
Read More
Rightmove Happy at Home Index 2023: Richmond upon Thames named happiest place to live by residents
The borough of Richmond upon Thames in London has been crowned the happiest place to live in Great Britain, followed by Winchester in Hampshire: It’s the first time a London location has topped Rightmove’s Happy at Home Index, now in its 12th year Monmouth in Wales takes third place, the first time an area from…
Read More 
How to Use Green Carbide for Sustainable and Affordable Real Estate Projects
How Recycled Carbide Can Help You Build Greener and Cheaper Real Estate Projects Green carbide is a cutting-edge material that CERATIZIT, a leading provider of hard material solutions, has developed. It is a kind of cemented carbide that is made from over 99% of recycled carbide from old milling cutters, drills and solid carbide tools.…
Read More