First Time Buyer – Gross House Price to Earnings Ratios
Commentary by Ruban Selvanayagam
According to the latest UK House Price Index, average house prices saw an annual price rise of 4.7% (to September 2020);
The latest Hometrack UK Cities House Price Index reported that Nottingham saw the greatest year-on-year house price growth at 5.3%. This was followed by Manchester (5.2%), Leeds (4.9%) and Liverpool (4.5%);
The most recent Royal Institute of Chartered Surveyors (RICS) report observed that survey feedback was still pointing to strength in buyer enquiries, agreed sales, new instructions and prices; near term sales expectations were modestly positive despite second lockdown and sentiment on the twelve-month sales outlook a lot more subdued in comparison.
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