Affordability

3 items found

Nationwide Building Society Affordability Report: Mortgage rate rises add to affordability pressures

Higher mortgage rates have resulted in a significant increase in the cost of servicing a mortgage relative to take-home pay
High house prices relative to average earnings continue to make raising a deposit a significant barrier for first time buyers (FTBs)
Affordability remains most stretched in London and south of England; the North & Scotland remain the most affordable regions

Special Report Affordability

Learn More

Local Affordability Report: Britain's most and least affordable areas to live

London borough of Kensington and Chelsea least affordable; East Ayrshire in Scotland remains most affordable
North East has smallest gap between least and most affordable boroughs, London has largest
25% of local authorities have seen an improvement in affordability since 2016
Westminster, Cambridge, Reading and Aberdeen amongst areas which have seen largest improvements, due to earnings growth outpacing house price growth
Around 45% of local authorities now have an HPER of 6+, compared with c35% in 2016

Special Report Affordability

Learn More

Affordability special report: Raising a deposit still the biggest hurdle for first time buyers despite affordability becoming more stretched

High house prices relative to average earnings continue to make raising a deposit a significant barrier for first time buyers (FTBs)
20% deposit equivalent to 110% average income – a record high and up from 102% one year ago
House prices have risen quicker than earnings over last year resulting in increase in cost of servicing a mortgage relative to take-home pay
North region & Scotland remain most affordable

Special Report Affordability

Learn More

3 items found

The Nationwide House Price Indices are prepared from information that we believe is collated with care, but no representation is made as to their accuracy or completeness.

We reserve the right to vary our methodology and to edit or discontinue the indices at any time, for regulatory or other reasons.

Persons seeking to place reliance on the Indices for any purpose whatsoever do so at their own risk and should be aware that various factors, including external factors beyond Nationwide Building Society’s control might necessitate material changes to the Indices.

The Nationwide House Price Indices may not be used for commercial purposes including as a reference for:

determining the interest payable, or other sums due, under loan agreements or other contracts relating to investments
determining the price at which investments may be bought or sold or the value of investments or
measuring the performance of investments.

Nationwide Building Society is the owner of the trade mark “Nationwide” and all copyright and other rights in the Nationwide House Price Indices.

The application of the IOSCO Principles on financial benchmarks to the NHPI is more fully set out in our statement regarding IOSCO Principles.

Nationwide considers that its arrangements for administration of the NHPI comply with the IOSCO Principles in a proportionate manner having regard to the nature of the index.

Commentary and other materials posted on our website are not intended to amount to advice on which reliance should be placed or an offer to sell or solicit the purchase by you of any products or services that we provide.

We therefore do not accept any liability or responsibility arising from any reliance placed on such materials by any visitor to our website, or by anyone who may be informed of any of its contents.