Most people don’t want to relocate from where they grew up but with the unaffordable house prices, we took a look at the top five areas where locals can’t afford to buy.
House prices in the area are rising fast and experts are predicting rises of up to 32% – outpacing London. The average house costs 10.6 times an average locals salary.
The seaside resort is a cultural hotspot, has a colourful nightlife and good transport links to London. It is also becoming unaffordable for many locals, with the average house costing 10.9 times the average local salary.
The city boasts a faster rate of increase in house prices than anywhere else in the UK. Unfortunately this means that the average price is now 12.7 times the city’s average salary.
The list wouldn’t be complete without London; the capital’s unaffordability is well documented and has the highest average price for a home in the UK. The average house is 13.9 times the city’s average salary.
A lack of homes being built has caused the prices to rise quickly, the council admitted no new homes were built for an entire year between April 2013 and April 2014. This is stifling growth according to the complaints of business owners. The average house costs 14.9 times the city’s average salary.
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