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Tuesday, May 05, 2015

KPMG study shares FTB affordability

A study by KPMG claims the average UK first-time buyer now needs to be earning £41,000.

For a FTB in the capital, that figure is estimated to be much higher, at £77,000.

The KPMG study mapped the average house price in each of ten UK regions, and based its affordabilty on the salary needed to secure a mortgage alongside a 10 per cent cash deposit.

The UK average, takes the ONS average house price of £202,765 and a mortgage of 4.5 times salary.

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