A comprehensive survey of house prices and incomes in
England and Wales has shown buyers must now spend six times their income even
in the cheapest areas. The Guardian said it had analysed 19 million sales over
20 years (from Land Registry and HMRC data) which demonstrated that "in
every region in England and Wales there have been dramatic increases in house
prices in proportion to incomes, fuelling concerns that millions will be locked
out of the UK property market". In 1995, a homebuyer on the median salary
for their region spent 3.2-4.4 times their salary on a house, depending on
where they lived. The paper said that "in 2012-13, the last year for which
complete data is available, the median house price had risen to between 6.1
times and 12.2 times median regional incomes". Read more on 24dash.
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