"The Easy Way to Get Your Best UK Mortgage" |
|
| Helping
over 300,000 people a year find the right mortgage NINE YEARS ONLINE |
|
|
|
|
||||||
|
|
UK House Prices Situation at 14 9 2007: Currently fairly stable in most areas
UK House Prices Forecast: Continued stability with some slight falls
House Prices vs. Wages - An Unfair Contest?
A new survey by the Royal Institution of Chartered Surveyors (RICS) has found that house prices are at their least affordable since 1990.
RICS senior economist David Stubbs explains the scale of the problem:
"House prices have risen by over 11 per cent a year since 1996 whereas first-time buyer incomes have only risen by 3.5 per cent a year."
RICS found that a first-time buyer couple with combined annual take-home pay of £25,899 now need to save almost 100% of their earnings in order to afford the deposit and stamp duty on a typical first-time buyer property.
This compares to just 20% in 1996 - a 350% decrease in affordability in 11 years.
Even in the cheaper north of England, a first-time buyer would still need to save 73% of their annual earnings, on average, to purchase their first home.
The RICS accessibility index calculates the average upfront cost of a new home - including deposit and stamp duty - and compares it to the average first-time buyer income to determine whether houses are becoming more or less affordable.
For You, Ze Boom Is Over - Rightmove Calls End of Boom
Leading property website Rightmove believes that the housing boom is over for the foreseeable future.
Following a fourth month of sub-1% increases to average property prices, Rightmove expects property inflation to gradually decline to 3%-4% over the next year - in line with wage inflation.
This should be good news for first-time buyers who have been struggling to keep up with escalating prices.
.
Latest House Prices Forecasts and Predictions in the UK
House Prices Forecasts and Predictions to 10/10/2006
House Prices Forecasts and Predictions to 27/10/2006
House Prices Forecasts and Predictions to 3/11/2006
House Prices Forecasts and Predictions to 7/11/2006
House Prices Forecasts and Predictions to 22/11/2006
House Prices Forecasts and Predictions to 27/11/2006
House Prices Forecasts and Predictions to 3/12/2006
House Prices Forecasts and Predictions to 10/12/2006
House Prices Forecasts and Predictions to 17/12/2006
House Prices Forecasts and Predictions to 22/12/2006
House Prices Forecasts and Predictions to 29/12/2006
House Prices Forecasts and Predictions to 5/1/07
House Prices Forecasts and Predictions to 12/1/07
House Prices Forecasts and Predictions to 19/1/07
House Prices Forecasts and Predictions to 26/1/07
House Prices Forecasts and Predictions to 2/2/07
House Prices Forecasts and Predictions to 9/2/07
House Prices Forecasts and Predictions to 16/2/07
House Prices Forecasts and Predictions to 23/2/07
House Prices Forecasts and Predictions to 2/3/07
House Prices Forecasts and Predictions to 9/3/07
House Prices Forecasts and Predictions to 16/3/07
House Prices Forecasts and Predictions to 23/3/07
House Prices Forecasts and Predictions to 30/3/07
House Prices Forecasts and Predictions to 6/4/07
House Prices Forecasts and Predictions to 13/4/07
House Prices Forecasts and Predictions to 20/4/07
House Prices Forecasts and Predictions to 27/4/07
House Prices Forecasts and Predictions to 4/5/07
House Prices Forecasts and Predictions to 11/5/07
House Prices Forecasts and Predictions to 18/5/07
House Prices Forecasts and Predictions to 25/5/07
House Prices Forecasts and Predictions to 8/6/07
House Prices Forecasts and Predictions to 15/6/07
House Prices Forecasts and Predictions to 22/6/07
House Prices Forecasts and Predictions to 6/7/07
House Prices Forecasts and Predictions to 13/7/07
House Prices Forecasts and Predictions to 20/7/07
House Prices Forecasts and Predictions to 27/7/07
House Prices Forecasts and Predictions to 3/8/07
House Prices Forecasts and Predictions to 10/8/07
House Prices Forecasts and Predictions to 17/8/07
House Prices Forecasts and Predictions to 24/8/07
House Prices Forecasts and Predictions to 31/8/07
House Prices Forecasts and Predictions to 7/9/07
Browse over 200 Free Mortgage TipsYour Complete Guide to UK Mortgages Find Out How to Win the Race to Buy Your Home - Home Buyers Guide Learn How to Save ££s by Remortgaging Read the Insider Info on Home Insurance Site Help |
 |  |  |  |
|
©Moneysorter Ltd. Office registered in England, Company Number: 3891081, VAT reg no 769 7245 74 Data Protection Register number Z4835056 Consumer Credit Licence 509896. This website is Approved by Cradon Investments Ltd Authorised and Regulated by the Financial Services Authority FSA No: 300505 |