Homes unaffordable despite price falls

摘要

Six months of house-price falls have done nothing to improve the affordability of new housing, according to the latest data from Hometrack, writes Joey Gardiner. Richard Donnell, director of research at the housing information provider, said: "The availability of mortgages has worsened by more than prices have fallen. Affordability is not going to improve dramatically as a result of this downturn." Recent price falls have led some to suggest that government attempts to make housing more affordable by increasing supply to 240,000 homes a year are no longer needed.