The greatest impact on the affordability of housing for families was provided by the rise in consumer prices, which reduced free cash balance families, which could be directed on payments on a mortgage loan, according to the “Ranking of regions according to the availability of purchase housing on mortgage”, compiled by RIA Rating.
MOSCOW, 16 Dec. The growth of rates on mortgages 2 percentage points reducing its availability by 20%, according to the “Ranking of regions according to the availability of families buy housing on the mortgage”, compiled by RIA Rating.
“If in the third quarter of 2013 interest rates were at 12% per annum, in the third quarter of the year 2015 – 14%. This increase in interest rates has reduced availability by about 20%. In some regions during this period, the ruble prices for apartments grew almost 1.5 times, which is far ahead of growth of incomes of the population,” the study said. To calculate the rating used data for the third quarter of 2015, for comparison, for the same period in 2013.
However, the greatest impact, according to the RIA “Rating”, showed the increase in consumer prices, which reduced free cash balance families, which could be directed on payments on a mortgage loan. So, in two years the cost of living in the Tambov region increased by 1.7 times, and in Ingushetia – in 1,6 times. The Russian average minimum household expenditure increased over the two years is 36%, which greatly reduced the ability of many families to purchase housing, added to it.
Among the regions, in which there is increase in availability compared to the pre-crisis period, there are two Russian Federal cities – Saint Petersburg (+1,8 percentage points) and Moscow (+0.8 percentage points). The growth of opportunities to purchase housing here can be linked to wage growth, while stagnation of prices due to the building boom of recent years, which led to the relative saturation of the market, the report said.
In this case the best results in terms of accessibility was observed in Leningrad region (+4.7 percentage points) and Perm region (+3.5 percentage points). This allowed the Leningrad region to move for 2 years with 17 on 8-of-place on this indicator and Perm region – 7 positions in the ranking compared to the third quarter of 2013, according to the materials.
“In some regions in two years, the affordability of housing has decreased quite significantly. For example, in Murmansk region the share of households for which the available apartments for sale has dropped from 44% to 29%, in the Yamal-Nenets Autonomous district from 61% to 49% and in the Nenets Autonomous district from 34% to 24%. Another 12 regions availability fell by over 3 percentage points”, — added in the research.