House prices unaffordable but a market crash is unlikely, says report

April 1, 2008
UK house prices are currently unaffordable but a 1990s housing price crash is unlikely, a report has shown.The Daily Telegraph/Lombard Street Research housing affordability index published yesterday, measures house prices in relation to incomes and the standard variable mortgage rate. The report revealed that house prices became unaffordable in the second half of 2007 but not to the level of …

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