Houses are less affordable than 50 years ago although the quality of homes has improved, according to the Halifax.
The lender, now owned by Lloyds Banking Group, said that over the last five decades UK house prices have risen by 2.7% a year, allowing for inflation.
This was above the 2% annual increase in real earnings over the same period.
Prices increased the most in the last decade, and separately lenders warned that lending to first-time buyers would be constrained for "some time to come". Please click here to read more.
