Half of two- and three-bed houses for sale are now affordable on an average income, Zoopla finds, but sales agreed are 9% below last year

Zoopla analysis reported on 15 October finds 51% of two- and three-bedroom houses for sale in Britain are priced within reach of an average-income household (a combined £53,500, borrowing 4.5 times income with a 20% deposit), up from 45% a year earlier. Incomes have been rising faster than house prices, which widens the pool of affordable homes even though average mortgage rates have climbed above 5% from around 4% at the start of the year. For buyers, particularly in northern England and Scotland where more than two-thirds of houses qualify, there is more choice and more room to negotiate; for sellers, realistic pricing matters more, with sales agreed 9% lower than a year ago. Affordability remains tight in London and the South East, where less than a fifth of houses fall within that budget.