ONS releases new housing affordability ratios

29th March 2019
By Andrew Jackson

Yesterday ONS released the housing affordability ratios for 2018, which will lead to some changes in local authority’s housing need figures. This dataset brings together data on house prices and annual earnings to calculate the affordability ratios for national and subnational geographies in England and Wales on an annual basis.

The median work-place based affordability ratios are a key input along with the household projections to the standardised methodology for calculating local housing needs.

The data shows that there were no significant changes in housing affordability between 2017 and 2018, this is following five years of decreasing affordability across England and Wales. London was the only region to show some evidence of improving affordability between 2017 and 2018, with properties becoming 1.0% more affordable. While this change was not statistically significant, these signs of improving affordability contrast with the longer-term trend of worsening affordability over the previous two decades. This is unsurprising given the current slow-down of the economy in light of the uncertainty of Brexit.

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If you want to discuss the implications for a particular authority or project please contact Andrew Jackson (andrewjackson@boyerplanning.co.uk) or your usual Boyer contact.

 

 

 

 

 

 

 

 

 

 
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