Housing affordability lowest since records began

The affordability of a home in England has fallen to its lowest since records began in 1999, official figures show. The cost a typical home in England has risen to 8.7 times the average annual disposable household income in the year to March, according to data from the Office for National Statistics. The figure compares with affordability ratios of six times average disposable income in Wales and 5.5 times in Scotland, both of which are below peaks hit around the time of the financial crisis. The median house price in England was £275,000 and median income £31,800. In Wales it was £176,000 and £29,400; in Scotland it was £166,000 and £30,300. The Times (£)