What are the driving factors behind current affordability issues in the market?
Across the UK, the high level of demand for homes coupled with a shortage of available stock continues to dominate the housing market, according to TwentyEA, who highlight that the disparity between housing stock and demand is making houses unaffordable for those trying to get on the property ladder as well as those simply hoping to move.
Year-on-year house prices have increased by 12.6% or £29,162, according to Nationwide’s latest house price index, with buyers across the UK now expecting to pay £260,000 for a home, after a 1.7% month-on-month increase in average cost. To continue reading, please click here.
Source: Property Reporter