South East still least affordable area

London & the South East dominate the least affordable areas, with mortgage payments in Kensington & Chelsea typically standing at 76.6% of disposable earnings.

Overall, mortgage payments have nearly halved as a proportion of income over the past 5 years from a peak of 48% seen in the autumn of 2007.

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House prices feel the squeeze

House prices in the ITV Meridian region are likely to come under further downward pressure for the rest of 2012 from a widening gap as growth in the number of homes for sale outstrips potential buyers, a study said today.