Friday, 28 April 2017

The Two Charts That Spell Big Trouble for Britain's Housing Market

THE TELEGRAPH: Nationwide Building Society has provided the latest snapshot of Britain's abruptly slowing housing market, with annual growth now at its lowest in four years.

The building society's economists chose this latest bulletin to touch on a disconcerting trend: the fact that while mortgage rates continue to reduce sharply, the "affordability" of property - as measured by the amount of income borrowers are committing to mortgage repayments - is not improving. In some areas it is deteriorating.

This reflects a period of static wages against rising house prices and a growing willingness of borrowers to stretch themselves, Nationwide's economists suggested. Read on and comment » | Richard Dyson | Friday, April 28, 2017