#mortgage-affordability

#mortgage-affordability

Most buyers need to earn $175,000 to $235,000 per year to afford a $700,000 home. This assumes average interest rates, a standard loan term, and a modest down payment.

The Building Societies Association (BSA) research revealed that a third of renters aged 25 to 44 wish to buy a home but feel ownership is unattainable.

House price growth expectations for the current year have been significantly scaled back amidst broader global uncertainties, according to a new forecast from property firm Savills.