Property News · May 27, 2016

House prices compared to earnings 'close to pre-financial crisis levels'


Consultancy says average UK house price is 6.1 times average salary, barely lower than the 6.4 they were at all-time peak House prices as a multiple of average earnings are “within a whisker” of record levels set before the financial crisis, a City consultancy has warned.The average UK house price is now 6.1 times average earnings, close to the peak of 6.4 it hit before the downturn, Fathom Consulting said. A rise in interest rates from their current low of 0.5% would lead to a correction, it said, although a return to “normal” rates was some way off. Continue reading…

Source : theguardian.com
Read more…House prices compared to earnings ‘close to pre-financial crisis levels’

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