Mismatch Between Wages And House Prices Increases

Airline pilots,flight engineers, electronics engineers, rubber process operatives, energy plant operatives, and merchandisers and window dressers all have seen housing affordability improve over the past five years. These account for just 2 per cent of occupations. The figures, compiled by mortgage broker Private Finance and based on information from the Office for National Statistics, highlight the growing mismatch between wage rises and house price increases. While average earnings grew by just 9 per cent from 2011 to 2016, the average house price soared by 26.7 per cent, meaning the number of years’ earnings required to afford the average home increased from eight to 9.2. Read more on the FT Adviser.