February 20, 2009
House Price Affordabilty Better Than In 2003
House Price to earnings ratio - a key affordabilty measure - is declining significantly.
The UK house price to average earnings ratio has fallen by 24% from a peak of 5.84 in July 2007 to an estimated 4.44 in December 2008. The ratio is not at its lowest level since April 2003 when it was 4.44.
The long-term average is 4.0
