4 April 2012

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Property in British cities is the most affordable it has been for almost a decade.

New research carried out by Lloyds TSB has shown that the average city property is worth 5.5 times the average annual salary. This figure is the lowest recorded since 2003 and an improvement on last year’s figure of 5.7.

Housing Economist at Lloyds TSB, Suren Thiru commented on www.houseladder.co.uk: "The improvement in housing affordability within many of our major urban conurbations has been significant during the past few years and reflects the decline in house prices over the period."

 

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