The UK house price to earnings ratio; it is coming down, but painfully slowly. Still, I can't help feeling that it has much further to go.
I always get a bit nervous about posting this chart. In the past, I have received a few rough comments. Some people get very upset with the idea of measuring housing affordability. It seems odd, and I can't explain why.
Anyway, the latest data shows that the ratio is still much higher than the historical average.