{"id":186345,"date":"2023-08-26T19:02:23","date_gmt":"2023-08-26T19:02:23","guid":{"rendered":"https:\/\/newsneednews.com\/?p=186345"},"modified":"2023-08-26T19:02:23","modified_gmt":"2023-08-26T19:02:23","slug":"we-reveal-how-affordable-these-average-homes-for-sale-are-for-locals","status":"publish","type":"post","link":"https:\/\/newsneednews.com\/lifestyle\/we-reveal-how-affordable-these-average-homes-for-sale-are-for-locals\/","title":{"rendered":"We reveal how affordable these average homes for sale are for locals"},"content":{"rendered":"<h2>What does the average house price buy in your area?<\/h2>\n<ul>\n<li><strong>Cost of a typical home in Britain costs 6.7x the average salary, says Halifax<\/strong><\/li>\n<li><strong>We pick some homes for sale and reveal how affordable they are for local people\u00a0<\/strong><\/li>\n<\/ul>\n<p>The cost of a typical home in Britain today costs 6.7 times the average salary, new data shows.<\/p>\n<p>This figure is the so-called house price to income ratio &#8211; and while it is currently high, it has eased since last summer, when the figure stood at 7.3.<\/p>\n<p>London remains by far the most expensive place in the country to buy a home, with an average property price of \u00a3533,057.<\/p>\n<p>Based on regional earnings, this puts the house price to income ratio at 9.3 &#8211; compared to ten a year ago &#8211; the highest of any region. Londoners typically earn \u00a314,000 more per year than the UK average, but properties are nearly \u00a3250,000 pricier.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/08\/22\/17\/74605069-12433021-We_pick_some_homes_for_sale_and_reveal_how_affordable_they_are_f-a-29_1692722234868.jpg\" height=\"377\" width=\"634\"><\/p>\n<p>We pick some homes for sale and reveal how affordable they are for local people &#8211; including this four-bedroom detached house in Belton (scroll down for more details)<\/p>\n<p>By contrast, the North East remains the most affordable region in which to buy a home, with an average house price of \u00a3168,240 and a house price to income ratio of 4.9.<\/p>\n<p>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.<\/p>\n<p><span>1. Four-bed house in Eastern England, where the average house price is \u00a3333,343, and the house price to earnings ratio is 7.8<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/08\/22\/17\/74603169-12433021-This_four_bedroom_detached_house_in_the_village_of_Belton_is_for-a-3_1692720226056.jpg\" height=\"411\" width=\"634\"><\/p>\n<p>This four-bedroom detached house in the village of Belton is for sale \u00a3330,000 via Bycroft estate agents<\/p>\n<p>This four-bedroom detached house is in the village of Belton, near Great Yarmouth, and is for sale \u00a3330,000 via Bycroft estate agents.<\/p>\n<p>That is just shy of the average \u00a3333,343 house price in the region, according to Halifax.<\/p>\n<p>Based on the area&#8217;s average earnings of \u00a342,897, it means house hunters would need 7.8 times their income to buy a typical house in this area.<\/p>\n<p><span>2. Three-bed house in East Midlands, where the average price is \u00a3238,755, and the house price to earnings ratio is 5.9<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/08\/24\/10\/74603177-12433021-This_three_bedroom_semi_detached_house_Spondon_is_for_sale_for_2-a-3_1692867890438.jpg\" height=\"478\" width=\"634\"><\/p>\n<p>This three-bedroom semi-detached house Spondon is for sale for \u00a3240,000 via Hall &amp; Benson estate agents<\/p>\n<p>This three-bedroom semi-detached house is in Derby&#8217;s ward of Spondon and is on the market with a price tag of \u00a3240,000 via Hall &amp; Benson estate agents.<\/p>\n<p>That is just above the average \u00a3238,755 house price in the region. And based on the area&#8217;s average earnings of \u00a340,162, it means house hunters would need to pay 5.9 times their salary to buy in this area.<\/p>\n<p><span>3. Three-bed house in Greater London, where the average price is \u00a3533,057, and the house price to earnings ratio of 9.3<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/08\/24\/10\/74603185-12433021-This_three_bedroom_terrace_house_in_East_Ham_is_for_sale_for_530-a-1_1692867889408.jpg\" height=\"424\" width=\"634\"><\/p>\n<p>This three-bedroom terrace house in East Ham is for sale for \u00a3530,000 via Hunters estate agents<\/p>\n<p>This three-bedroom terrace house is in East Ham, a district in the London borough of Newham, eight miles east of Charing Cross.<\/p>\n<p>It is on the market for \u00a3530,000 and the sale is being handled by Hunters estate agents.<\/p>\n<p>The asking price is just below the average \u00a3533,057 house price in the area. Based on the capital&#8217;s average earnings of \u00a357,203, it means house hunters would need to pay an eye-watering 9.3 times their salary to buy an average house in London.<\/p>\n<p><span>4. Three-bed house in Northern Ireland, where average house prices are \u00a3186,856, and the house price to earnings ratio is 5.3<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/08\/24\/10\/74603167-12433021-This_three_bedroom_semi_detached_house_is_in_the_Northern_Irelan-a-2_1692867889410.jpg\" height=\"425\" width=\"634\"><\/p>\n<p>This three-bedroom semi-detached house is in the Northern Ireland village of Saintfield and is for sale for \u00a3190,000<\/p>\n<p>This three-bedroom semi-detached house is in the village of Saintfield in Northern Ireland&#8217;s County Down.<\/p>\n<p>It is on the market for \u00a3190,000 and the sale is being handled by Hunters estate agents.<\/p>\n<p>The asking price is just above the average \u00a3186,856 house price in the area. Based on the region&#8217;s average earnings of \u00a335,368, it means house hunters would need to pay 5.3 times their salary to buy a typical home in this area.<\/p>\n<p><span>5. Three-bed house in the North East, where the average house price is \u00a3168,856, and the house price to earnings ratio is 4.9<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/08\/24\/10\/74603161-12433021-This_three_bed_terrace_house_in_Dunston_is_for_sale_for_170_000_-a-10_1692867891702.jpg\" height=\"434\" width=\"634\"><\/p>\n<p>This three-bed terrace house in Dunston\u00a0is for sale for \u00a3170,000 via Sarah Mains estate agents<\/p>\n<p>This three-bed terrace house in Dunston, on the south bank of the River Tyne is for sale for \u00a3170,000 via Sarah Mains estate agents.<\/p>\n<p>The asking price is just above the average \u00a3168,856 house price in the area. Based on the region&#8217;s average earnings of \u00a334,276, it means house hunters would need to pay 4.9 times their salary to typically buy in this area.<\/p>\n<p><span>6. Three-bed house in the North West, where the average house price is \u00a3223,493, and house price to earnings ratio is 5.7<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/08\/24\/10\/74604541-12433021-This_three_bedroom_semi_detached_house_in_Farnworth_is_for_sale_-a-4_1692867890440.jpg\" height=\"478\" width=\"634\"><\/p>\n<p>This three-bedroom semi-detached house in Farnworth is for sale for \u00a3230,000 via Bolton Properties estate agents<\/p>\n<p>This three-bedroom semi-detached house in the Greater Manchester town of Farnworth is for sale for \u00a3230,000 via Bolton Properties estate agents.<\/p>\n<p>The asking price is just below the average \u00a3223,493 house price in the area. Based on the region&#8217;s average earnings of \u00a338,999, it means house hunters would need to pay 5.7 times their salary to typically buy in this area.<\/p>\n<p><span>7. Three-bed house in Scotland, where the average house price is \u00a3201,774, and the house price to earnings ratio is five<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/08\/24\/10\/74603193-12433021-This_three_bedroom_detached_house_in_Cambuslang_is_for_sale_for_-a-11_1692867896088.jpg\" height=\"425\" width=\"634\"><\/p>\n<p>This three-bedroom detached house in Cambuslang is for sale for \u00a3200,000 via Countrywide estate agents<\/p>\n<p>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.<\/p>\n<p>It is on the market for \u00a3200,000 and the sale is being handled by Countrywide estate agents.<\/p>\n<p>The asking price is just below the average \u00a3201,774 house price in the area. Based on the region&#8217;s average earnings of \u00a340,703, it means house hunters would need to pay five times their salary to typically buy a property in this area.<\/p>\n<p><span>8. Three-bed in the South East, where the average house price is \u00a3384,106, and the house price to earnings ratio is 8.9<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/08\/24\/10\/74603203-12433021-This_three_bedroom_end_of_terrace_home_in_Portsmouth_is_for_sale-a-5_1692867890443.jpg\" height=\"423\" width=\"634\"><\/p>\n<p>This three-bedroom end of terrace home in Portsmouth is for sale for \u00a3375,000 via Fenwicks estate agents<\/p>\n<p>This three-bedroom end of terrace home in Portsmouth is for sale for \u00a3375,000 via Fenwicks estate agents.<\/p>\n<p>The asking price is just below the average \u00a3384,106 house price in the area. Based on the region&#8217;s average earnings of \u00a343,335, it means house hunters would need to pay a substantial 8.9 times their salary to typically buy a property in this area.<\/p>\n<p><span>9. <\/span><span>Four-bed house in the South West<\/span><span>, where the average house price is \u00a3301,248, house price to earnings ratio of eight<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/08\/24\/10\/74603195-12433021-This_four_bedroom_semi_detached_house_in_Yeovil_has_a_price_tag_-a-7_1692867890480.jpg\" height=\"425\" width=\"634\"><\/p>\n<p>This four-bedroom semi-detached house in Yeovil has a price tag of \u00a3300,000 and is being sold by Connells estate agents<\/p>\n<p>This four-bedroom semi-detached house in Yeovil is for sale for \u00a3300,000 via Connells estate agents.<\/p>\n<p>The asking price is just below the average \u00a3301,248 house price in the area. Based on the region&#8217;s average earnings of \u00a337,561, it means house hunters would need to pay eight times their salary to typically buy a property in this area.<\/p>\n<p><span>10. Four-bed house in Wales, where the average house price is \u00a3215,183, and the house price to earnings ratio is 6.8<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/08\/24\/10\/74603201-12433021-This_four_bedroom_terrace_house_in_Newport_is_for_sale_for_210_0-a-6_1692867890446.jpg\" height=\"425\" width=\"634\"><\/p>\n<p>This four-bedroom terrace house in Newport is for sale for \u00a3210,000 via Pinkmove estate agents<\/p>\n<p>This four-bedroom terrace house in Newport is on the market with an asking price of \u00a3210,000 via Pinkmove estate agents.<\/p>\n<p>The price tag is just below the average \u00a3215,183 house price in the area. Based on the region&#8217;s average earnings of \u00a331,654, it means house hunters would need to pay 6.8 times their salary to typically buy a property in this area.<\/p>\n<p><span>11. Three-bed house in the West Midlands, where the average house price is \u00a3251,139, and the house price to earnings ratio is 6.8<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/08\/24\/10\/74603189-12433021-This_three_bedroom_terrace_house_in_Earlsdon_is_for_sale_for_250-a-9_1692867890721.jpg\" height=\"425\" width=\"634\"><\/p>\n<p>This three-bedroom terrace house in Earlsdon is for sale for \u00a3250,000 via Shortland Home estate agents<\/p>\n<p>This three-bedroom terrace house in the Coventry suburb of Earlsdon is for sale for \u00a3250,000 via Shortland Home estate agents.<\/p>\n<p>The price tag is just below the average \u00a3251,139 house price in the area. Based on the region&#8217;s average earnings of \u00a337,002, it means house hunters would need to pay 6.8 times their salary to typically buy a property in this area.<\/p>\n<p><span>12. Three-bed house in Yorkshire &amp; the Humber, where the average house price is \u00a3203,674, and the house price to earnings ratio of 5.7<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/08\/24\/10\/74603187-12433021-This_three_bedroom_semi_detached_house_in_Sheffield_is_for_sale_-a-8_1692867890495.jpg\" height=\"425\" width=\"634\"><\/p>\n<p>This three-bedroom semi-detached house in Sheffield is for sale for \u00a3200,000 via William H Brown estate agents<\/p>\n<p>This three-bedroom semi-detached house in Sheffield is for sale for \u00a3200,000 via William H Brown estate agents.<\/p>\n<p>The price tag is just below the average \u00a3203,674 house price in the area. Based on the region&#8217;s average earnings of \u00a336,042, it means house hunters would need to pay 5.7 times their salary to typically buy a property in this area.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/img.thisismoney.co.uk\/i\/buttons\/mortgages.png\"><br \/>\nSource: <a href=\"https:\/\/www.dailymail.co.uk\/property\/article-12433021\/What-does-average-house-price-buy-area.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>What does the average house price buy in your area? Cost of a typical home in Britain costs 6.7x the<\/p>\n","protected":false},"author":2,"featured_media":186344,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>We reveal how affordable these average homes for sale are for locals - News Need News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/newsneednews.com\/lifestyle\/we-reveal-how-affordable-these-average-homes-for-sale-are-for-locals\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"We reveal how affordable these average homes for sale are for locals - News Need News\" \/>\n<meta property=\"og:description\" content=\"What does the average house price buy in your area? 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