UK Housing Market: Slight Improvement in Affordability

📆 28/11/2024 04:31:00
📰 TheSun

⏱ Reading Time:
17 sec. here
7 min. at publisher
📊 Quality Score:
News: 27%
Publisher: 61%

ECONOMY Notizia

UK Housing Market,Affordability,House Prices

The average house price to earnings ratio in the UK has decreased slightly, making homes marginally more affordable. However, experts caution that this improvement may be fragile and could be affected by government budget changes.

The average house price to earnings ratio in the UK is currently at 6.55, a slight decrease from last year's 6.62, indicating that buying a home has become slightly more affordable relative to income. House prices increased by 3.8%, but wages rose faster, outpacing the rate of inflation for house prices. Mortgage costs as a percentage of income have dropped from 33% to 28% over the last year.

While affordability has improved, experts like Karen Noye from Quilter warn that this progress could be fragile and potentially unsustainable, especially considering the government’s proposed budget changes. The North East was found to be the most affordable region with a ratio of 4.38, followed by Yorkshire and Humber with 5.42

Abbiamo riassunto questa notizia in modo che tu possa leggerla velocemente. Se sei interessato alla notizia puoi leggere il testo completo qui. Leggi di più:

Scrivi un Commento

Italia Ultime Notizie, Italia Notizie

Similar News:Puoi anche leggere notizie simili a questa che abbiamo raccolto da altre fonti di notizie.

Shropshire Council’s finance report shows slight improvementShropshire Council has published its second quarterly report for the year, detailing its financial position as of 30 September.
Fonte: shropshirelive - 🏆 55. / 63 Leggi di più »

Topps Tiles cautions over costs as profits slump on weak home improvement marketThe retailer said recent Budget measures will an extra £4 million to its wage bill from next April.
Fonte: LBC - 🏆 17. / 74 Leggi di più »