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Want to buy a home in UK? You need to earn £54,000 on average  

First-time buyers now need an average income of £54,000 to purchase a typical property in a UK city, but the priciest locations have become a little more affordable, according to the latest data. This average income required has risen by 9% since 2016, when it was £49,900, largely down to higher house prices, said the property website Zoopla.

Earlier this week, official data showed average UK house prices increased by 1.4% in the year to April, down from a 1.6% rise in Zoopla looked at 20 cities that account for more than one-third of the UK’s housing stock and found Liverpool had the lowest gross household income required for first-time buyers at £26,000.

In London, meanwhile, those who have never owned before need an average household income of £84,000 to purchase a property. While this may seem unattainably high for many would-be purchasers, Zoopla said it was the lowest figure for four years and £3,250 less than the amount required in 2016. Read more HERE.

First-time buyers now need an average income of £54,000 to purchase a typical property in a UK city, but the priciest locations have become a little more affordable, according to the latest data. This average income required has risen by 9% since 2016, when it was £49,900, largely down to higher house prices, said the property website Zoopla.

Earlier this week, official data showed average UK house prices increased by 1.4% in the year to April, down from a 1.6% rise in Zoopla looked at 20 cities that account for more than one-third of the UK’s housing stock and found Liverpool had the lowest gross household income required for first-time buyers at £26,000.

In London, meanwhile, those who have never owned before need an average household income of £84,000 to purchase a property. While this may seem unattainably high for many would-be purchasers, Zoopla said it was the lowest figure for four years and £3,250 less than the amount required in 2016. Read more HERE.

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Published on 27/06/2019 @ 12h44   | |