The ability to withstand the costs in England and Wales is due to prenatal levels

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Official figures have returned that the ability to afford housing in England and Wales returned to prenatal levels last year after wages rose much faster than home prices.

The average average house in England last year cost 290,000 pounds-7.7 times the average profits of a full-time employee. This was less than 7.9 the amount in 2019, and a decrease from the peak of 9.0 in 2021, as well as numbers from the National Statistics Office.

While the high mortgage rates since 2020 means that many families will not have felt immediately influenced, the variable percentage helps those looking to buy a house required to show the relative profits of the price of the house.

“It provides a platform for the growth of (homes and sales) as these prices have decreased if you have a basic ability to withstand costs.”

rate Home prices It rose to profits sharply between 2020 and 2021, when interest rates were reduced to the bottom, and the UK government brought tax incentives to home buyers.

Since 2021, home prices in England and Wales have increased by 1 percent, while the average profits increased by 20 percent. The sharp rise in inflation and interest rates during that time has led to depression in home sales and prices, and led to an increase in wages.

The typical mortgage rates were about 2 percent at the beginning of 2020, before Covid-19 arrived directly, and now stands about 4-5 percent. This means that the monthly mortgage payments and the ability to bear the costs of potential buyers are still more slope than they were before the epidemic.

The increase in mortgage costs slowly struck families with the end of fixed mortgage deals.

“There are still a large number of families that are scheduled to reach the end of fixed deals for five years later this year and will face an increase in the family bill,” Cook said.

Data on the national level showed that payment of the mortgage reached 37.7 percent of the homeland wage fast food for buyers for the first time in the last three months of 2024. This decreased from the peak of 38.4 percent at the end of 2023, but it is still much higher than 27.7 percent in the fourth quarter of 2019, which was before death.

A separate analysis by Savills on Monday showed that the average terrible house pays 12754 pounds annually, or about 2829 pounds in 2022, the mortgage rates per year began to rise.

Savils said the UK housing costs reached the highest level in 2024 when adjusted to inflation. Houses are still lower at reasonable prices than they were 20 years ago, when the price ratio to profits reached 6.79.

The tenant also feels upset about the high costs of housing, as rents have risen at a record pace in recent years. For the new rent, the rent costs 29 percent of the total income in February, an increase of 25.8 percent at the end of 2019, according to the Property Data Pricehubble company numbers.