People now have less money to spend on the costs of moving, such as removal vans and putting their own homes up for sale, while the interest rate hike means monthly mortgage payments are higher
Mr Newton said: “What we’ve seen between 2021 and 2022 is that the change is due to both median wages rising and house prices stagnating, and that’s led to a lower ratio of house prices to earnings.
“The trend is on par with what we’ve seen nationally, but the overall level means West Yorkshire is a significantly more affordable place to live than the rest of the country .” Across the whole of the UK, the average house is now priced at more than eight times the average salary., where the affordability ratio fell from 6.5 to 5.6 in the space of a year.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Restaurant chain Six by Nico to open its first ever Yorkshire branch in Leeds this summerThe tasting menu will change every six weeks, each with a different theme, inspired by the name Six by Nico
Read more »
'This was proper Erin Brockovich stuff': How a village on Yorkshire's border took on pollutionTwenty-five years have passed since the former mining community of Killamarsh set up its anti-pollution campaign against a multinational company, but for the local milkman who became the protest group’s press officer, it remains hugely significant.
Read more »
These two Yorkshire cities have been named among the cheapest for first time buyersBradford in West Yorkshire came out on top; the city has already been named the upcoming City of Culture for 2025 and is now considered the cheapest city for first-time home buyers
Read more »
The Yorkshire attraction which has been named amongst the best free days out in the UKA muhc-loved Yorkshire attraction has been named among the best free days out in the UK, according to a Which? survey.
Read more »
Christa Ackroyd opens a sliding door on a lifetime of happy memories in Yorkshire🗣 'They will have all gone now along with the sliding doors but I can still picture every transformation from cut mouchette to dralon suite, brocade to velvet curtains.'
Read more »
For sale: Yorkshire farmhouse with stables plus incredible views and a building plotThis three bedroom, semi-detached farmhouse is set within an acre of land in a quiet location between Otley and Menston.It comes with sensational views and offers the perfect escape from the hustle and bustle of everyday life while still being in easy reach of amenities.
Read more »