http://i.nfinews.co.uk/CmpDoc/2009/7...531C5M,499MM,1
The main point is that house prices have risen by 0.5% in Jan 2013 which takes them back to where they stood in Jan 2012. However, this is still 11% shy of where they were in the 2007 peak.
Nationwide also acknowledge 1st time buyers as being the life blood of the property market and note that they account for 40% of all buyers. At just 20,000 per month though, again this is a huge dip from 2007.
The good news is that affordability is on the increase. Historically low interest rates, falling house prices in some areas and modest pay rises means that the typical mortgage now accounts for 20% of average earnings as opposed to 24% pre credit crunch.
