{"id":4350,"date":"2024-02-02T11:22:37","date_gmt":"2024-02-02T11:22:37","guid":{"rendered":"https:\/\/poseidon-gp.com\/property\/?p=4350"},"modified":"2024-02-02T11:22:37","modified_gmt":"2024-02-02T11:22:37","slug":"london-house-prices-at-its-most-affordable-since-2014","status":"publish","type":"post","link":"https:\/\/poseidon-gp.com\/property\/london-house-prices-at-its-most-affordable-since-2014\/","title":{"rendered":"London house prices at its most affordable since 2014"},"content":{"rendered":"<div class=\"sc-cAkrUM gMfAlG\">\n<div class=\"sc-fAGzit gBQMFw\">\n<p>Housing affordability in London is at its best since peak unaffordability in 2016, and in line with 2014 levels. New data from shows that the average property\u00a0price in the capital is now 13 times the average earnings, down from a high of 15 in 2016.<\/p>\n<div class=\"sc-cAkrUM gMfAlG\">\n<div class=\"sc-fAGzit gBQMFw\">\n<div>\n<div>\n<p>Most mainstream mortgage lenders will only offer a mortgage worth 4.5 times a borrower&#8217;s salary.<br \/>\nThese latest figures also revealed that London is leading the country in terms of buyer demand, up 21 per cent year-on-year. However, while the demand is there, house prices\u00a0remain subdued, and the\u00a0London market has experienced an annual decrease\u00a0of 1.1 per cent year-on-year.<\/p>\n<div class=\"sc-cAkrUM gMfAlG\">\n<div class=\"sc-fAGzit gBQMFw\">\n<div>\n<div>\n<p>This slight price reduction, when coupled with rising earnings, means that London\u2019s affordability is on the rise as the\u00a0house-price-to-earnings ratio\u00a0is at its lowest since 2014.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"sc-cAkrUM gMfAlG\">\n<div class=\"sc-fAGzit gBQMFw\">\n<div>\n<div>\n<p>While this is positive news for those wanting to get on the housing ladder, there is still the hurdle of mortgage rates, which have doubled since 2021, and are significantly higher than they were in 2014, when the Bank of England\u2019s base rate was 0.5 per cent.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Housing affordability in London is at its best since peak unaffordability in 2016, and in line with 2014 levels. New data from shows that the average property\u00a0price in the capital is now 13 times the average earnings, down from a high of 15 in 2016. Most mainstream mortgage lenders will only offer a mortgage worth [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[],"class_list":["post-4350","post","type-post","status-publish","format-standard","hentry","category-news"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9PjAq-18a","_links":{"self":[{"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/posts\/4350","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/comments?post=4350"}],"version-history":[{"count":1,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/posts\/4350\/revisions"}],"predecessor-version":[{"id":4351,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/posts\/4350\/revisions\/4351"}],"wp:attachment":[{"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/media?parent=4350"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/categories?post=4350"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/tags?post=4350"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}