House Prices in 30 UK Cities Are Over 1,000% Higher Than Annual Salaries

Aiming to get a foot on the property ladder? With house prices in 30 UK cities over 1000% higher than annual salaries, reaching your housing goals can seem almost impossible…
With the price of houses today, it is daunting to even begin the maths. However, there are some places which would make it much more attainable. But, where?
The team at comparethemarket.com have analysed the median salaries in the UK’s largest cities vs the price of a house to discover which parts of the country could offer the most and least affordable housing.
Most affordable places to buy a house based on area salary (house prices as a % of salary)
  1. Stoke-on-Trent, West Midlands – 498%

  2. Dundee, Scotland – 526%

  3. Sunderland, North East – 553%

  4. St Helens, North West – 567%

  5. Blackburn – 571%

Most expensive places to buy a house based on area salary (house prices as a % of salary)
  1. London, London – 1534%

  2. Oxford, South East – 1520%

  3. Brighton & Hove, South East – 1495%

  4. Woking, South East – 1418%

  5. Cambridge, East – 1463%

The cheapest average house price is in Blackpool at £103,889, whereas the most expensive, as expected, is in London, with an average price of £464,998. That’s a huge difference of £361,109, which could potentially buy 3 more houses in Blackpool.
The research also shows a huge difference in the north and south divide. In fact, the average ‘house price to income ratio’ in Southern regions is almost double the Northern regions.
To see the full research and to discover your home cities house price to income ratio simply click here.

 

Where does your city rank?
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