BUY­ING A HOME IN A UK CITY ‘LEAST AF­FORD­ABLE SINCE 2007’

Gloucestershire Echo - - YOUR MONEY -

CITY liv­ing is at its least af­ford­able level for home-buy­ers since 2007, a re­port sug­gests.

The av­er­age house price in a UK city in 2018 equated to 7.2 times av­er­age an­nual earn­ings – mak­ing the cost of buy­ing a home the least af­ford­able since 2007, when buy­ers had to fork out 7.5 times their in­come typ­i­cally, Lloyds Bank found.

The av­er­age home in a city cost £248,233, while av­er­age full-time earn­ings stood at £34,366.

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