Saturday, Apr 19, 2008
House prices increase by 200% as wages increase by 25%, case closed
Firstrung: First time buyers witness house prices increase by 200% in a decade
UK House prices for first time buyers throughout the UK have risen a staggering 200 per cent in a decade, the annual Roof Affordability Index has revealed...The index, seen as the most comprehensive yearly data on house affordability, shows the average first time property price has rocketed from £52,674 to £159,494, with house price to income ratios doubling from 1.72 to 3.4. The figure is even higher in London with first time buyers facing a crippling 250 per cent rise to almost £260,000. The devastating report, in the latest Shelter ROOF magazine, confirms the fears that first time buyers are facing the hardest ever battle to buy their first property.
Posted by converted lurker @ 01:32 PM (330 views) Add Comment
1 Comment
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1. planning4acrash said...
And builders have been acting as cartels to benefit from it, price fixing to make it seem like house prices must be high to pay for the cost of construction. NOT TRUE!