January 18, 2016

Chart of the Day: House Price to Income Ratio

   January 18, 2016

Chart of the Day: House Price to Income Ratio

Very interesting chart comparing house prices to average incomes in different countries. This chart clearly indicates that house prices in countries like the UK are very expensive compared to countries on the left of the chart. As a result, many first-time house buyers are getting priced out of the market. This has led to a number of first-time house buyers falling over the past year for the first time in 4 years. Also a quarter of first-time buyers in 2015 took out mortgages stretching over 35 years to be able to afford something. All this, despite government-backed attempts to try to get more young people on to the housing ladder. The Government clearly needs to do more.

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