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Average price of a UK property is now 8 times the average wage

We have all been made aware of just how pricey property is, especially in the capital…But, this is really scary!

Recent research has discovered that the average UK house price is eight times the average wage with the majority of least affordable areas in London, new research has found.

In London, things are even worse as the average price of a home is 14 times the average wage! This study, which has been produced by eMoov, has really shone a light on the housing crisis that the UK is facing. 

Unsurprisingly, the borough of Kensington and Chelsea tops the list, with the average property price being £1,212,375. This means that the price of property in the borough is now 46 times the average wage of £26,624. 

When we look at the regions, the average house price sits at £232,885, which is nine times the average wage of £26,884. 

This is why, here at Inspired, we focus on trying provide London homes which appeal to young professionals and come with an affordable price tag. 

Our developments span across locations with superb transport links and amenities, including Croydon, Epsom and Sutton. In addition, our London apartments are fitted out with the latest home technologies and our communal areas have won industry awards. 

Furthermore, our London homes start at just £235,000 and we have help to buy in place. 

To find out more, please contact the team on 0208 688 6552. 

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