Average homes cost 10 times the average salary

6th November 2015

The average cost of a home in the UK is now ten times higher than the average annual income of a full-time worker, according to data from the ONS. While the average property costs £284,000, the average yearly wage stands at £27,200, and for first time-buyers the average cost of a home is around £215,000, eight times higher than the average income.. A spokesman for the Department for Communities and Local Government said: "Government initiatives have helped more than 230,000 people to buy since 2010, and we are delivering 200,000 new starter homes, which will be available at a 20% discount to first-time buyers".

Daily Mail (01/11/2015)