One in Three U.K. Homeowners Earns More From Property Than Work
- Prices in 31% of U.K. districts rose more than wages: Halifax
- Biggest gap between rising values, earnings was in Haringey
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Home prices in 31 percent of the U.K.’s local authority districts have risen more than the total average take-home pay of workers in the area over the past two years, according to Halifax.
While homeowners would have to sell their houses to realize those gains, it illustrates how quickly prices have risen, as well as how hard it is for new buyers to get on the property ladder.