February 4, 2023

Average UK property costs 7 times the typical wage:

Due to the pandemic, the houses supply were limited and therefore had never been more unaffordable. The average house costs 7 times the amount of an average wage. Despite, the recent property crash of 15%, the mortgage interest rates will further put property acquisition out of reach for many. From the capital to the north the ranges are 11 times the earning to 4 and a half times. This shows that the regional differences are indeed, very stark. This is the case after the stamp duty cuts.

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Do you think this is acceptable and what should be done to combat this?

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