Affordability can improve on paper while home ownership remains difficult in practice. If wages rise faster than prices, the ratio may look healthier. But buyers still need deposits, mortgage approval and confidence in future repayments.
The deposit remains a major barrier. For many first-time buyers, saving the upfront amount is harder than meeting the theoretical monthly payment.
This keeps some households in the rental sector for longer, even where ownership is becoming marginally more attainable.
For lenders and policymakers, the challenge is not only price. It is access. Shared ownership, guarantees and savings support may matter more where deposit pressure is the main obstacle.
For developers, affordability should be measured through the full purchase journey. A market can look reachable on average and still exclude the buyers it is meant to serve.
