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Money.co.uk: North East most affordable area to buy a home

Mortgage Introducer

April 8, 2021

UK houses

The North East is the most affordable place to buy a house with the average property costing 5.01 times the area’s average annual wage, Money.co.uk research has found.

The TS27 postcode in Country Durham had the cheapest average house price at £25,500.

The North West and Yorkshire and the Humber are the next most affordable areas costing¬†5.72 times and 5.83 times a buyer’s average yearly salary to buy an average home.

Unsurprisingly, London is the least affordable place to buy a house, with full-time workers having to pay roughly 12.52 times the area’s average annual wage for a property.

Second is the South East, with houses costing around 9.57 times the area’s average annual wage whilst the East of England ranks third least affordable, with residents paying 8.86 times their annual salary.


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