How 2010 was the hardest time EVER to buy a house | Mail Online
Last year was the most difficult time to buy a house for twenty years as property price rises and high deposit requirements combined with low wage growth, research has shown.
In 2010 the average house price stood at £244,164, more than six times the average household income. At the same time, average deposit levels reached 1.7 times the average level of income, according to First Direct.
The average deposit for a house purchase has risen from £6,793 in 1990 to £65,924 in 2011. This is due to the long-term trend of house price rises combined with the more recent squeeze on mortgage lending which has meant lenders have demanded larger deposits.
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