Homes make more money than owners in 18% of areas

Homes in nearly a fifth of UK local authority districts have “earned” more than their owners over the past two years, research suggests. Halifax compared rising property values against people’s average take-home earnings and found that house price growth in Barnet in London outpaced average earnings by £52,256 – the highest difference in the survey. The proportion of areas where house prices are outpacing earnings has fallen, however, from 31% to 18%. The report also highlighted how 86% of areas where the average house price rise is greater than local earnings are in London, the South East, South West or East of England.

The Times (13/04/2018)