PHOTO: Yes, your parents really did have it easier (Image: Getty)
It’s not about lattes and avocados on toast. In the past 20 years house prices have soared compared to earnings, leaving the dream of escaping the landlord and having a home of your own “almost unreachable” for people without help.
That’s according to new figures from the Office for National Statistics, which has just published a major study into housing affordability in England and Wales .
Its figures show that last year it cost 7.6 times the average salary to buy a pre-existing home, and 9.7 times to buy a new build.
By contrast, existing homes in 1997 cost just 3.4 times your salary, while new builds then set people back 4.6 times their annual earnings.
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