Only richest 10% can afford to buy as figures show average household needs 8.6 times disposable income to meet asking priceOnly the richest 10% of households can afford to buy an average-priced home in England, according to official figures laying bare the scale of Britain’s broken housing market.Highlighting the result of decades of house price growth that has outstripped household incomes, the Office for National Statistics said the cost of buying a home was “unaffordable” in every part of the UK except Northern Ireland. Continue reading…
Source link : https://www.theguardian.com/money/2024/dec/09/cost-of-buying-average-home-in-england-now-unaffordable-warns-ons
Author : Richard Partington Economics correspondent
Publish date : 2024-12-09 15:14:02
Copyright for syndicated content belongs to the linked Source.
Cost of buying average home in England now unaffordable, warns ONS
