it's impossible to buy ...

22 August 2001

it’s impossible to buy an average priced house on an average income across most of the uk. at least that’s what i think this survey is trying to say. across half of the country the average house is priced at around the £90k mark which means a household needs to earn about £30k a year to borrow three times its income as a mortgage. the survey doesn’t take in to account the fact that the average priced house may not be the ideal home for the average family. nor does it take into account that mortgage companies often don’t lend three times income when its joint incomes they are considering.