Halifax dal 1983 pubblica ogni mese i dati che raffrontano gli stipendi medi con i prezzi delle case. Tuttavia un giornalista del Telegraph contesta i riferimenti usati per il calcolo dello stipendio medio, che non tengono conto della forza lavoro femmiline e di nuclei familiari con due redditi.
Halifax each month publishes a price-to-earnings ratio going back to 1983.This p/e relationship, based on a comparison of house prices and average wages should be closely watched; history shows a high p/e ratio often heralds price falls (although the credit boom sustained a p/e above 5 between 2003 and 2007). In the last two months, the p/e ratio has lurched above five. It was 5.07 in December, the highest since June 2008 when the market began to buckle. This is way above the long-term average of 4.1. At a most basic level, and assuming the elasticity of markets means prices return to their long-run average, expect a fall of 19pc.