UK homes prices over $69,293 as mortgages exceeded rents

In May, home prices are at extreme heights as average prices grew by over £55,000 ($69,293) in the last two years to a record high of £367,501 ($4,63,115) due to lack of supply, as the number of properties available to buy is below 55% compared to 2019 levels.
In May, the average monthly mortgage cost of £901 ($1,135) exceeded a home rent of £887 (%1,117).
For a first-time homebuyer, the average monthly mortgage payment grew by 13% to £100 ($126), after four interest increases.
The monthly rental prices also grew by 40% compared to 10 years ago, which are growing at the fastest pace.

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