UK households are feeling the squeeze from high rents and rapid house price growth, but the pandemic has dampened demand in London.
Sky News analysis of new data shows that it is becoming increasingly difficult to buy a home, especially for people in the parts of the country on the lowest incomes.
Krishan Shah, researcher at think tank the Resolution Foundation, says that house price inflation has outpaced wages since the '80s. Meanwhile, London lagged behind other regions with an annual increase of just over 5% and a fall in rents.average payCeredigion on the Welsh coast experienced the highest inflation of almost 33% over the past two years, despite being in the bottom third of UK local authorities for average weekly wages.
This can also be seen in the data for different property types, as the growth in flat prices has diverged from the trends in other house prices since the start of the pandemic.
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