Why first-time buyers are basically doomed at the moment, in one chart

Matthew Champion@matthewchampion
Friday 12 December 2014 13:40
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In 2014, the average home in Britain 'earned' more than 60 per cent of all workers.

A study from the Centre for Economics and Business Research (CEBR), commissioned by the Post Office, said the average house saw its value increase by 12 per cent, or £29,339, in the last 12 months.

In contrast, the average worker earned £27,271, while salaries went up on average by 0.6 per cent this year.

Meanwhile, in London, the 'average' home saw its value increase by £80,462, twice the average salary of £41,095.

More: [Don't ever ask Russell Brand how much his house costs]1

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