UK’s Toxic Housing Mix

Asking prices for houses in the UK are starting to fall at a time when first time buyers in the UK continue to struggle to get on the ladder.
The average house price in the UK has now moved lower by around 25k according to property website Zoopla, but are still nearly 8 times the average wage, which is around 30K per year.
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Schemes like help-to-buy require a 5% deposit which would equate to around 11k for a house at the national average of 223,807 and in London it would mean close to double that at 22k minus any fees as the average asking price is 481k here.

This post was published at Zero Hedge on Dec 21, 2017.

 

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