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Average Earner Buyers Are Priced Out Of 95% Of All Regions

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Potential homebuyers earning the average wage for their area are facing an epic struggle to get onto the property ladder solo. A median-priced property is now no longer affordable for median-earning solo buyers in 95 per cent of local authorities across England and Wales, Savills says. In fact there are just 16 locations that remain affordable, largely clustered in the North and Wales. http://www.dailymail.co.uk/money/mortgageshome/article-3430100/Could-average-earner-buy-home-area-Interactive-map-Savills-reveals.html

As 20% help to buy was great success, it's time to increase it to 40% or 50%.

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The calculations assumed that aspiring buyers were able to save up a 20 per cent deposit, and were then given a generous mortgage worth four-and-a-half times their income - the highest ratio that many lenders will offer.


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