Since 1997, the price of buying a home in the UK has nearly doubled, while wages aren’t quite keeping up with this increase. The cost of buying a home is now nearly 8 times the salary of an average full-time worker in the UK. Some areas are worse than others, with the most cost-effective area being Cope and the least cost-effective being Kensington and Chelsea. The area where housing has seen the biggest drop in affordability is in the eastern parts of England.
Now that you've read this are you interested in talking to a mortgage adviser? Fill out the quick form below and you'll be contacted soon by an independent, regulated mortgage specialist for a free no obligation quote.
and £15,000 on your Mortgage
Get a custom rate and see how much you will save
by filling out the quick form below.