X-Press Legal Services
property affordability reaches seven year high
According to Zoopla, housing affordability has been at its highest since 2003. The average UK income earner can now afford to buy 58% of all homes. These levels were last seen in 2003 when the affordability rate was 56%.
The most affordable areas were in the North, with the least affordable being in the South. Bradford was the most affordable city in the UK and Hull coming in second.
Zoopla Commercial Director, Nicholas Leeming commented: "We are at levels of affordability not seen in the UK housing market for almost seven years which makes it a great time to buy, especially if current low interest rates can be locked in by the borrower."
