House prices have surged to five and a half times the typical salary, and a 20% deposit is now 10% more than the average annual wage.
Figures from Nationwide Building Society show that a 20% deposit on a home now equates to a record high of 110% of the pretax income of a typical full-time employee. Last year it was 102%.
The price-to-earnings ratio is also at a record high, topping the previous high of 5.4 in 2007 and well above the long-run average of 3.8.
