Only the 10% highest-income households in England could afford an average-priced home with fewer than 5 years of household income in a warning that house prices are becoming unaffordable to the majority of the population
The Office for National Statistics in its latest report says the Ratios of house sales prices to disposable household incomes is 8.6 in England 5.8 in Wales, 5.6 in Scotland
and 5.0 in Northern Ireland
The ONS said that in England, The average annual disposable household income was £35,000 during the financial year ending in 2023 while the average house price was £298,000,
Incomes have increased more rapidly than UK inflation in England and Wales since FYE 1999, but more slowly than house prices, which have outpaced both
More adults are now living with parents –in 2021, around 1 in every 4.5 families (22.4%) had an adult child, up from around 1 in 5 (21.2%) in 2011 while some 36% of adults in Great Britain told us they found it very or somewhat difficult to afford their rent or mortgage payment
