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British homes are the most unavailable for the past 10 years
The average cost of housing exceeds annual income about than seven times.
Houses and apartments in British cities have been financially inaccessible for almost a decade. The average cost of housing is almost seven times greater than the annual income, according to Lloyds Bank.
Oxford is the least affordable city in the UK, explains Bloomberg. Property prices there are almost 11 times higher than the average annual income, in Stirling, Scotland, prices were only 3.7 times higher than income.
Although the average cost of housing in British cities grew by 32% over the past four years to 224,926 pounds (282,000 dollars), annual earnings have increased by 7% only.
London is in the second place by the housing inaccessibility, although house prices in the capital marked the first major annual decline of nearly six years in February, according to website Rightmove.
Houses and apartments in British cities have been financially inaccessible for almost a decade. The average cost of housing is almost seven times greater than the annual income, according to Lloyds Bank.
Oxford is the least affordable city in the UK, explains Bloomberg. Property prices there are almost 11 times higher than the average annual income, in Stirling, Scotland, prices were only 3.7 times higher than income.
Although the average cost of housing in British cities grew by 32% over the past four years to 224,926 pounds (282,000 dollars), annual earnings have increased by 7% only.
London is in the second place by the housing inaccessibility, although house prices in the capital marked the first major annual decline of nearly six years in February, according to website Rightmove.
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