Special Report

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Local affordability special report: where are the most & least affordable areas in each region?

Nationwide's recent Affordability Report identified there had been a significant widening in the gap between the least affordable and most affordable regions. However, there is also considerable variation within regions and this report explores this further.

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Affordability special report: raising a deposit rather than mortgage payments the major barrier for first time buyers

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 104% average income
But low mortgage rates mean the cost of servicing a mortgage as a share of take-home pay is close to the historic average
Significant variation by region and occupation
North & Scotland remain most affordable regions

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National Parks produce 20% price premium

20% premium for a property situated within a National Park
6% premium for a property within 5km of a National Park

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2010s weakest decade for house price growth since 1990s but affordability metrics present a mixed picture

House prices up 33% in 10s vs 180% in 80s
London top performer in 2010s with house prices rising twice as fast as UK average
Low interest rates have helped support affordability through the decade
High house price to earnings ratio make deposit a major barrier for first time buyers

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