According to the latest house price and affordability index released by Findaproperty.com affordability has improved slightly over the last month
First time buyers now only have to find an average of £57,400 instead of £58,030. Not exactly a pittance but a lot better than the massive £70k + during much of 2008.
The Affordability Gap (amount of deposit required expressed as a multiple of FTB average household income) at 1.80 times, has decreased marginally since last month (1.81). This compares favourably with the peaks of around 2.4 times late last year.
First time buyers now only have to find an average of £57,400 instead of £58,030. Not exactly a pittance but a lot better than the massive £70k + during much of 2008.
The Affordability Gap (amount of deposit required expressed as a multiple of FTB average household income) at 1.80 times, has decreased marginally since last month (1.81). This compares favourably with the peaks of around 2.4 times late last year.
The most affordable region in the UK remains the North East where FTB income to average property price is at 3.4 time average income and the deposit as a ratio of FTB annual income is 0.3 compared to the national average of 1.8
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