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

Property News, Statistics and Reports

New research from comparethemarket.com, compares house prices and average salaries in 80 of the UK’s most populated towns and cities to reveal the most affordable places to live.

When we take an average of each northern region (North East, North West, and Yorkshire & The Humber), we get a house price to income ratio of 6.72. When we do the same for the southern regions (South East, South West, East England, and London) we get nearly double, with a house price to income ratio of 12.38.

The 10 towns and cities where house prices are the highest compared to salaries

Town/City Region Average house price feb 2019 Median salary House price as % of salary House price to income ratio
London London £464,998 £30,311 1534% x 15.34
Oxford South East £411,835 £27,089 1520% x 15.20
Brighton & Hove South East £365,786 £24,469 1495% x 14.95
Woking South East £420,298 £28,386 1481% x 14.81
Cambridge East £431,542 £29,505 1463% x 14.63
High Wycombe South East £393,820 £27,318 1442% x 14.42
Bath South West £335,133 £23,760 1410% x 14.10
Hemel Hempstead East £399,794 £29,120 1373% x 13.73
Poole South West £309,109 £23,280 1328% x 13.28
Chelmsford East £330,590 £25,497 1297% x 12.97

The 10 towns and cities where house prices are the lowest compared to salaries

Town/City Region Average house price Feb 2019 Median salary House price as % of salary House price to income ratio
Stoke-on-Trent West Midlands £109,894 £22,082 498% x 4.98
Dundee Scotland £117,723 £22,399 526% x 5.26
Sunderland North East £115,006 £20,785 553% x 5.53
St Helens North West £128,739 £22,691 567% x 5.67
Blackburn North West £113,416 £19,870 571% x 5.71
Hull Yorkshire and The Humber £110,697 £19,262 575% x 5.75
Blackpool North West £103,889 £17,982 578% x 5.78
Glasgow Scotland £129,493 £22,325 580% x 5.80
Middlesbrough North East £111,095 £19,075 582% x 5.82
Wigan North West £132,124 £22,122 597% x 5.97

House Price to Income Ratio by Region

While the average of the median salaries of southerners (£26,056) is a little higher than those of northerners (£21,356), the average house prices are higher, with homes in the north costing an average of £144,356 and homes in the south costing an average of £328,444.

Town/City Average house price Feb 2019 Median salary House price as % of salary House price to income ratio
North East £127,895 £20,865 611% x 6.11
North West £149,271 £21,856 677% x 6.77
Scotland £164,298 £23,780 681% x 6.81
Yorkshire and The Humber £155,902 £21,374 727% x 7.27
East Midlands £167,238 £21,740 776% x 7.76
Wales £179,032 £22,810 785% x 7.85
West Midlands £185,305 £22,952 800% x 8
South West £255,982 £23,620 1085% x 10.85
East £289,767 £24,910 1145% x 11.45
South East £303,031 £25,383 1187% x 11.87
London £464,998 £30,311 1534% x 15.34

Five towns and cities with the highest median salary

  1. London – £30,311
  2. Cambridge – £29,505
  3. Hemel Hempstead – £29,120
  4. Woking – £28,386
  5. Slough – £28,255

Five towns and cities with the lowest median salary

  1. Blackpool – £17,982
  2. Leicester – £18,958
  3. Middlesbrough – £19,075
  4. Kingston upon Hull – £19,262
  5. Nottingham – £19,552

Five towns and cities with the highest average house prices

  1. London – £464,998
  2. Cambridge – £431,542
  3. Woking – £420,298
  4. Oxford – £411,835
  5. Hemel Hempstead – £399,794

Five towns and cities with the lowest average house prices

  1. Blackpool – £103,889
  2. Stoke on Trent – £109,894
  3. Kingston upon Hull – £110,697
  4. Middlesbrough – £111,095
  5. Blackburn – £111,095

Cities that have a minimum population of 100,000 were used.

We included North East, North West, and Yorkshire & The Humber as Northern regions and South East, South West, East England, and London as Southern regions.

Due to lack of data, Belfast, Gillingham, Sale, and Sutton Coldfield were excluded.

All house prices were taken from the UK Land Registry – http://landregistry.data.gov.uk/app/ukhpi using the 2019 data.

Leave a Reply