House price affordability poorest since 2007

House prices in UK cities are outpacing wage growth by 11%, according to Lloyds Bank, which found that the ratio of average prices across 62 cities to average city earnings has reached 7.2, the highest level since 2007. The new report reveals that the average house price has risen over 37% from 2013 to its highest ever level of £248,233 in 2018. Greater London is the fifth least affordable UK city, with average house prices of £503,000 now 10.3 times the average earnings of £48,604.

The Mail on Sunday (03/02/2019)   City AM (03/02/2019)