Halifax have just released their findings after researching house price to income ratio to see which areas are the most and least affordable, with some of the results not being all that surprising.
Well the good news is that in general, house prices do appear to be falling and we are experiencing some wage growth. However interest rates are rising.
If we take a look back to June 2022, on average a house would have set you back £293,586, with average full-time earnings at £40,196 a year- according to Halifax this made house prices the least affordable they have ever been.
The figures a year later show the average house costing £286, 276, with an earnings increase up to £43,090.
If you are looking for your next home, well, seven of the top ten most affordable places to live are in Scotland.
In England, we look to Hull, Blackpool and Burnley as the most affordable. Unsurprisingly, 4 of the most expensive places to live are in London, with St Albans and Guildford also making the list.
Well the good news is that in general, house prices do appear to be falling and we are experiencing some wage growth. However interest rates are rising.
If we take a look back to June 2022, on average a house would have set you back £293,586, with average full-time earnings at £40,196 a year- according to Halifax this made house prices the least affordable they have ever been.
The figures a year later show the average house costing £286, 276, with an earnings increase up to £43,090.
If you are looking for your next home, well, seven of the top ten most affordable places to live are in Scotland.
In England, we look to Hull, Blackpool and Burnley as the most affordable. Unsurprisingly, 4 of the most expensive places to live are in London, with St Albans and Guildford also making the list.
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NewsTranscript
00:00 Well, the good news is that in general, house prices do appear to be falling and we are
00:05 experiencing some wage growth. However, interest rates are rising. If we take a look back to
00:12 June 2022, on average a house would have set you back £293,586, with average full-time
00:21 earnings at £40,196 a year. According to Halifax, this made house prices the least
00:28 affordable they have ever been. The figures a year later show the average house costing
00:33 £286,276, with an earnings increase up to £43,090. If you are looking for your next
00:42 home, well, seven of the top ten most affordable places to live are in Scotland. In England,
00:48 we look to Hull, Blackpool and Burnley as the most affordable. Unsurprisingly, four
00:53 of the most expensive places to live are in London, with St Albans and Guildford also
00:58 making the list.