Forget the popular term ‘housing affordability’ - the latest government figures suggest the real issue may be housing un-affordability.
Data from the Office for National Statistics shows that on average working people could expect to pay around 7.6 times their annual earnings on purchasing a home in England and Wales in 2016, up from 3.6 times earnings in 1997.
The median price paid for residential property in England and Wales increased by 259 per cent between 1997 and 2016 while median individual annual earnings increased by only 68 per cent in the same time period.
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