housing affordability

Homebuying affordability improves

29th November 2024 Consumer Lending | #housing affordability

New research by Halifax has found that homebuying is becoming more affordable relative to income. The analysis based on data from the Halifax House Price Index compared typical house prices to average earnings across the UK. House prices have increased by +3.8 % compared to a year ago, reaching an average of £292,508. Meanwhile, annual earnings…

Average house now costs 8.4 times income

28th July 2023 Consumer Lending | #housing affordability

In 2022, in England, the average house price was £275,000 and the average annual disposable household income was £33,000, so houses cost 8.4 times income according to latest Office for National Statistics (ONS). The ONS affordability threshold is five times earnings and we have been above this since 2017. In England, only the top 10%…

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housing affordability

Homebuying affordability improves

Average house now costs 8.4 times income

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