August 2, 2012 by Bob Thomas
In the past two decades the average price of a house in the UK has risen. This is due to different factors such as the interest rates and the areas in which the properties are. Also the fact that 100% mortgages were introduced onto the market meant that it was a lot easier for people to get a mortgage. This however is having an adverse effect as more people are buying properties.
Due to the current economic climate however these people are struggling to make some repayments and as such the housing market is being flooded by people that want to sell their home. But, with the average house price being £161,659 not a lot of people can afford to take on the burden of the mortgage. Some don’t have the money that they need for the deposit on the property.
There are some interesting facts that are highlighted here as the price and locale show that things have changed over the years as you would have expected.
This infographic shows how the housing market has sky rocketed during the last 20 years and was created using data from Emortgagecalculator.co.uk