House prices: Buying a home in the UK now costs EIGHT times your salary

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House prices: Buying a home in the UK now costs EIGHT times your salary

Since 1997, the price of buying a home in the UK has nearly doubled, while wages aren’t quite keeping up with this increase. The cost of buying a home is now nearly 8 times the salary of an average full-time worker in the UK. Some areas are worse than others, with the most cost-effective area being Cope and the least cost-effective being Kensington and Chelsea. The area where housing has seen the biggest drop in affordability is in the eastern parts of England.