Mortgages  

London home 77% harder to buy than 5 years ago

The ability of borrowers to buy a home in London is 77 per cent worse now than it was five years ago, the latest Ability to Buy index has revealed.

According to the yearly index from Hamptons International, although people’s ability to buy a home has improved by 2 per cent on average since 2010, and 11 per cent better for first-time buyers, this hides the huge disparity in London and the West Midlands, where house prices have soared far above income growth.

The data found that the South West, Wales, Yorkshire & Humberside and the North West have all seen an improvement in ability to buy since last year.

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