House prices have surged to five and a half times the typical salary, and a 20% deposit is now 10% more than the average annual wage.
Figures from Nationwide Building Society show that a 20% deposit on a home now equates to a record high of 110% of the pretax income of a typical full-time employee. Last year it was 102%.
The price-to-earnings ratio is also at a record high, topping the previous high of 5.4 in 2007 and well above the long-run average of 3.8.
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Including:
Mitsubishi Estates and Co-Re appoint Savills to help lease the development’s office space
Decision deferred on former National Institute of Agricultural Botany revamp
Developer has taken 10 storeys off proposals since first filing
Colliers appointed to lease 50,000 sq ft of office space in the Salford Quays development
