Houses are more affordable now than since 2003, says one of the latest property portals Zoopla.
It says that because of lower house prices and mortgage rates, 58% of homes are now affordable by the average British earner, up from 34% three years ago.
Over the past ten years, affordability levels reached their highest point in 2002 at 66%. Zoopla rates affordability on the basis of a borrower using one-third of income for mortgage payments.
Today, that proportion of an average income safely finances a mortgage of £188,423.
All we need now are for Banks and Building Societies to continue to relax their lending criteria.
Interestingly Besley Hill have seen approaching a third more buyers register compared to the same period in 2009 and over 50% more homes coming onto the market.
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