The recession had a “silver lining” for many homeowners as the affordability of
Andy Gray, head of
For every £1,000 that homeowners had in take home pay in December 2008, £196 went on
In 2009, the same figure had fallen by 20 per cent to £157, with the average monthly payment standing at £497.
The greatest decrease in payments was experienced by those in London, followed by the south-east and south-west.
A drop of 15 per cent – the smallest average decrease – occurred for homeowners in the north-east.
Nationwide reported recently that the typical house price rose by 2.1 per cent in January. The figure was 8.6 per cent higher than the same time last year.