Wages stagnate compared to house prices

UK homes have increased in value almost three times faster than their occupants' salaries over the past decade, according to new analysis. The average UK home has risen around 43% in value between 2008 and 2018, from £160,954 to £229,861. But over the same period the average salary has only increased by 15%, from 24,606 to £28,860. If wages had increased at the same rate as house prices over the period, the average annual UK salary would now be £35,187, according to the research by mortgage broker Private Finance. The firm’s managing director Simon Checkley said: "Over the past 10 years, as homeowners worked hard to earn an income, their home has done the same - arguably even more successfully."

City AM (01/10/2019)   Daily Express (01/10/2019)   Daily Mirror (01/10/2019)