North-North Divide: York And Bradford In A Tale Of Two Cities

 

Housing

 

By Greg Wright in The Yorkshire Post

 

Home affordability in British cities is at its worst level since 2008, with properties typically costing nearly seven times average earnings, a report has found. The Lloyds Bank study found that the average house price in a UK city has surged by nearly a third (32 per cent) over the last five years, with the average home costing £224,926 in 2017.

Over the same period, average annual earnings in a city have seen only a 7 per cent increase, rising to £32,796. As a result, the average home in a city now costs around 6.9 times the average annual wage, which is the least affordable house price-to-earnings ratio since 2008, when a city home typically cost 7.2 times annual wages.

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