North-south divide grows for house price affordability in the UK
2019-02-27
Getting on to the property ladder became less affordable in three-quarters of local authorities in 2017 as wage growth failed to keep pace with house price gains.
First-time buyers in London face the biggest affordability gap, with a typical entry-level property costing 13 times local salaries.
But there are more affordable regions out there, with properties on the bottom rung of the ladder in the north east costing only 5.5 times typical earnings for people in their 20s.
The so-called affordability ratio was compiled by the Office for National Statistics, based on local earnings for people aged between 22 and 29 and the average price of a home in the bottom quartile in different regions of England and Wales.
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