A quarter of all neighbourhoods ‘off-limits’ to home buyers, say official figures

A quarter of neighbourhoods in England and Wales were off-limits to many prospective home owners last year, the Office for National Statistics claims.

The ONS took the price of an entry level property – those valued in the lower quartile of a price bracket locally – and found that the average income in a quarter of areas was below that needed to secure a mortgage of 4.5 times earnings to afford the home

According to analysis of ONS data, the cost of an entry-level property on average across England and Wales has increased by almost 20% in the last decade to £140,000.

Assuming a 15% deposit, a typical household in England and Wales could need an income of £26,444 in order to borrow enough for an entry-level property, the ONS said.

Some of the least affordable areas, unsurprisingly, were in London.

Wandsworth, for example, had an estimated average annual household income of £89,223, but the estimated income required for an entry-level property was £127,689.

The most affordable neighbourhoods were generally in the north of England and parts of Wales.

You can find affordability levels for entry-level properties in your area by entering your postcode into the table below.



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