House Affordability High
Published / Last Updated on 04/05/2009
House Affordability High
According to Halifax’s first time buyer affordability survey, the house price to earnings affordability ratio for first time buyers has fallen to just 4.34 times income as at March 2009.
This is a 26% fall since its high of 5.84 in 2007 and is expected to fall even more as earnings rise and prices fall.
We suggest when the ratio moves back to around 4 times income, we will all start to see a slow recovery in the private housing market.
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