Heartbreak House: Bleak Picture for Home Buyers With Average House Price Up 70% Since 2000.
PR Newswire Europe, September, 2005
LONDON, September 21 /PRNewswire/ -- It's grim up North... and down South, and in the East and in the West. New research from management consultancy, Hay Group, reveals our ability to buy property is being eroded across every part of the country more quickly and dramatically than previously feared.
Homes are now on average 70% more expensive in relation to our salaries than in 2000, with the average home now costing six times the average salary. Purchasing power is worst in Richmond, where homes are pitched at eighteen times salary levels. Even the UK's cheapest towns, Hull and Merthyr Tydfil, require nearly four times the average local salary to buy a house.
The new report - Home Truths: Pay and Property in the UK - by Hay Group, is the most...
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