London homes now cost a record 14.5 TIMES average earnings - but Manchester and Birmingham are catching up



Being able to afford a home in London is now so far out of reach for the average worker in the capital that a house or flat now costs 14.5 times the typical income, a new study reveals.
The gap between earnings and house prices has nearly doubled in the past 15 years in the capital, the latest Hometrack UK Cities House Price index shows. 
However, while houses in London are still growing ever-more unaffordable, they are being outpaced by homes in Manchester and Birmingham. 
The average price in Manchester rose by another 6.7 per cent in the year to October to £158,800, while the average... read more

 
28 November 2017 in Business, Views: 42
Source: Daily Mail
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