We reveal how affordable these average homes for sale are for locals
What does the average house price buy in your area?
- Cost of a typical home in Britain costs 6.7x the average salary, says Halifax
- We pick some homes for sale and reveal how affordable they are for local people
The cost of a typical home in Britain today costs 6.7 times the average salary, new data shows.
This figure is the so-called house price to income ratio – and while it is currently high, it has eased since last summer, when the figure stood at 7.3.
London remains by far the most expensive place in the country to buy a home, with an average property price of £533,057.
Based on regional earnings, this puts the house price to income ratio at 9.3 – compared to ten a year ago – the highest of any region. Londoners typically earn £14,000 more per year than the UK average, but properties are nearly £250,000 pricier.
We pick some homes for sale and reveal how affordable they are for local people – including this four-bedroom detached house in Belton (scroll down for more details)
By contrast, the North East remains the most affordable region in which to buy a home, with an average house price of £168,240 and a house price to income ratio of 4.9.
We pick a property for sale in each region across Britain and reveal how affordable they are for local people, using local house price to income ratios.
1. Four-bed house in Eastern England, where the average house price is £333,343, and the house price to earnings ratio is 7.8
This four-bedroom detached house in the village of Belton is for sale £330,000 via Bycroft estate agents
This four-bedroom detached house is in the village of Belton, near Great Yarmouth, and is for sale £330,000 via Bycroft estate agents.
That is just shy of the average £333,343 house price in the region, according to Halifax.
Based on the area’s average earnings of £42,897, it means house hunters would need 7.8 times their income to buy a typical house in this area.
2. Three-bed house in East Midlands, where the average price is £238,755, and the house price to earnings ratio is 5.9
This three-bedroom semi-detached house Spondon is for sale for £240,000 via Hall & Benson estate agents
This three-bedroom semi-detached house is in Derby’s ward of Spondon and is on the market with a price tag of £240,000 via Hall & Benson estate agents.
That is just above the average £238,755 house price in the region. And based on the area’s average earnings of £40,162, it means house hunters would need to pay 5.9 times their salary to buy in this area.
3. Three-bed house in Greater London, where the average price is £533,057, and the house price to earnings ratio of 9.3
This three-bedroom terrace house in East Ham is for sale for £530,000 via Hunters estate agents
This three-bedroom terrace house is in East Ham, a district in the London borough of Newham, eight miles east of Charing Cross.
It is on the market for £530,000 and the sale is being handled by Hunters estate agents.
The asking price is just below the average £533,057 house price in the area. Based on the capital’s average earnings of £57,203, it means house hunters would need to pay an eye-watering 9.3 times their salary to buy an average house in London.
4. Three-bed house in Northern Ireland, where average house prices are £186,856, and the house price to earnings ratio is 5.3
This three-bedroom semi-detached house is in the Northern Ireland village of Saintfield and is for sale for £190,000
This three-bedroom semi-detached house is in the village of Saintfield in Northern Ireland’s County Down.
It is on the market for £190,000 and the sale is being handled by Hunters estate agents.
The asking price is just above the average £186,856 house price in the area. Based on the region’s average earnings of £35,368, it means house hunters would need to pay 5.3 times their salary to buy a typical home in this area.
5. Three-bed house in the North East, where the average house price is £168,856, and the house price to earnings ratio is 4.9
This three-bed terrace house in Dunston is for sale for £170,000 via Sarah Mains estate agents
This three-bed terrace house in Dunston, on the south bank of the River Tyne is for sale for £170,000 via Sarah Mains estate agents.
The asking price is just above the average £168,856 house price in the area. Based on the region’s average earnings of £34,276, it means house hunters would need to pay 4.9 times their salary to typically buy in this area.
6. Three-bed house in the North West, where the average house price is £223,493, and house price to earnings ratio is 5.7
This three-bedroom semi-detached house in Farnworth is for sale for £230,000 via Bolton Properties estate agents
This three-bedroom semi-detached house in the Greater Manchester town of Farnworth is for sale for £230,000 via Bolton Properties estate agents.
The asking price is just below the average £223,493 house price in the area. Based on the region’s average earnings of £38,999, it means house hunters would need to pay 5.7 times their salary to typically buy in this area.
7. Three-bed house in Scotland, where the average house price is £201,774, and the house price to earnings ratio is five
This three-bedroom detached house in Cambuslang is for sale for £200,000 via Countrywide estate agents
This three-bedroom detached house in Cambuslang is just south of the River Clyde and about six miles south east of the centre of Glasgow.
It is on the market for £200,000 and the sale is being handled by Countrywide estate agents.
The asking price is just below the average £201,774 house price in the area. Based on the region’s average earnings of £40,703, it means house hunters would need to pay five times their salary to typically buy a property in this area.
8. Three-bed in the South East, where the average house price is £384,106, and the house price to earnings ratio is 8.9
This three-bedroom end of terrace home in Portsmouth is for sale for £375,000 via Fenwicks estate agents
This three-bedroom end of terrace home in Portsmouth is for sale for £375,000 via Fenwicks estate agents.
The asking price is just below the average £384,106 house price in the area. Based on the region’s average earnings of £43,335, it means house hunters would need to pay a substantial 8.9 times their salary to typically buy a property in this area.
9. Four-bed house in the South West, where the average house price is £301,248, house price to earnings ratio of eight
This four-bedroom semi-detached house in Yeovil has a price tag of £300,000 and is being sold by Connells estate agents
This four-bedroom semi-detached house in Yeovil is for sale for £300,000 via Connells estate agents.
The asking price is just below the average £301,248 house price in the area. Based on the region’s average earnings of £37,561, it means house hunters would need to pay eight times their salary to typically buy a property in this area.
10. Four-bed house in Wales, where the average house price is £215,183, and the house price to earnings ratio is 6.8
This four-bedroom terrace house in Newport is for sale for £210,000 via Pinkmove estate agents
This four-bedroom terrace house in Newport is on the market with an asking price of £210,000 via Pinkmove estate agents.
The price tag is just below the average £215,183 house price in the area. Based on the region’s average earnings of £31,654, it means house hunters would need to pay 6.8 times their salary to typically buy a property in this area.
11. Three-bed house in the West Midlands, where the average house price is £251,139, and the house price to earnings ratio is 6.8
This three-bedroom terrace house in Earlsdon is for sale for £250,000 via Shortland Home estate agents
This three-bedroom terrace house in the Coventry suburb of Earlsdon is for sale for £250,000 via Shortland Home estate agents.
The price tag is just below the average £251,139 house price in the area. Based on the region’s average earnings of £37,002, it means house hunters would need to pay 6.8 times their salary to typically buy a property in this area.
12. Three-bed house in Yorkshire & the Humber, where the average house price is £203,674, and the house price to earnings ratio of 5.7
This three-bedroom semi-detached house in Sheffield is for sale for £200,000 via William H Brown estate agents
This three-bedroom semi-detached house in Sheffield is for sale for £200,000 via William H Brown estate agents.
The price tag is just below the average £203,674 house price in the area. Based on the region’s average earnings of £36,042, it means house hunters would need to pay 5.7 times their salary to typically buy a property in this area.
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