Thursday briefing: House of cards – Britain’s broken property market
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Britain’s housing market remains distorted 10 years on from the global financial crisis, with first-time buyers struggling to scrape together the much bigger deposits they need today, existing owners unable to “climb the ladder” and a gaping price divide between London and regional cities, according to a report out today.
The average house price has grown to £478,142 in London compared with the national average of £209,971. A decade on from the 2007 crash, prices have only just started gaining ground in Wales, Yorkshire and Humberside and the north-west, while values in the north-east are down 9%, according to analysis by the real estate company Savills.
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Source : Thursday briefing: House of cards – Britain's broken property market