Bank study finds no city in the south with homes under 7.5 times average local income with average UK city house price now at 6.6 times average local payThere is no longer a city in the south of England where house prices are less than seven and a half times average local incomes,according to analysis by Lloyds Bank that reveals how the domestic affordability crisis now stretches far beyond London. “The housing affordability gap has widened to its worst level in eight years,” said the Lloyds analysis, and noting that the final time prices were so high was at the very top of the boom in 2008,just before the financial crisis struck. Related: Unaffordable country: where can you afford to buy a house? Continue reading...
Source: theguardian.com