Houses 'less affordable' than 50 years ago
20/01/2010Homebuyers are at more risk of suffering debt problems than ever, as research shows that houses are less affordable than they were 50 years ago.
The Halifax said today that UK property prices have risen by 2.7 per cent yearly, allowing for inflation – this is well above the level of income growth over the same period.
Unsurprisingly, perhaps, it was the last decade which saw the biggest increase in values – with a staggering real rise of 62 per cent during the noughties.
The study also found that the number of people owning their own homes has increased by a quarter over the period – with just over two thirds of homes now owner-occupied.
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