The proportion of homeowners’ income being swallowed up
by mortgage payments is now one of the smallest since the mid-1990s, according
to the Halifax. It said typical mortgage payments accounted for less than a
third (29%) of homeowners’ disposable income in the last three months of 2017 –
down from almost half (47%) during the same period in 2007. This figure is also
“comfortably below” the long-term average of 35% for the period between 1983 and
2017. The bank said that in the second quarter of 2013 the figure went down to
26.3%, and ended that year close to 28%. Prior to that, you have to go back to
the spring of 1996 for the lowest figure on record: 23.6%. Read more on the
Guardian website.
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