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Figure 9 is a line chart. The horizontal axis shows years which run from 1988 to 2016. The vertical axis is labelled ‘Mortgage payments as % of income’ and runs from a value of 0 up to 30%. There are two lines on the chart, one for each of the two groups of owners: first-time buyers and existing owners. Both lines follow a very similar pattern with the line for existing owner being slightly below that of the other group in more recent years. The line for first-time buyers starts at about 20% in 1988 and peaks at 28% in 1990 after which it falls dramatically back to 17-18% by 1993 and stays at that level for ten years. In 2002it rises again to reach 24% in 2007 then falls again to stabilise at 17-18% from 2009 onwards. The line for existing owners follows a very similar pattern of ups and downs but stabilises at a lower value of around 16% from 2009

 2.7 Housing affordability in the UK