What's going on?

Data out over the weekend suggests the UK housing market is finally starting to slow down.

What does this mean?

UK house prices hit an all-time high last month, which didn�t come as much of a surprise: demand was around 60% higher than the five-year average, while supply was around 40% lower. But there are a few signs that the market is finally easing up. First, house prices climbed 8.4% in April from the same time in 2021 � substantial, sure, but down on March�s 9%. Second, 5% of sellers slashed their asking prices by the most in 18 months. And third, the average time taken between listing a property and agreeing on its sale started to rise. So with demand slipping as the cost of living rises, UK real estate company Zoopla thinks house prices will be just 3% higher by the end of the year than they were at the end of 2021.

Why should I care?

For you personally: Get comfortable.
This is promising if you�re a Brit thinking about buying, but there�s a caveat here: data out last month showed that average monthly mortgage payment is now higher than the average rental payment, probably offsetting any benefit you�d get from the slowdown. And things are even tougher if you�re trying to get onto the property ladder, with first-time-buyers now in need of a 34% deposit on average � up from 25% a decade ago. Throw in the rising cost of just about everything, and you might want to get used to living with your parents�

Zooming out: Feed the rich.
Thank goodness the neediest people in the country are able to scrimp and save to afford their third homes: executives at FTSE 100 companies earned a near-record average of �3.6 million ($4.5 million) last year, according to data out on Monday. That means they made 81 times as much as their average employee, compared to 59 times in 2020 (tweet this).