Has your home made more than you in the last year?
The answer to that question could well be yes, according to the latest research by estate agent comparison site, GetAgent.co.uk, who found that house prices in 92 areas of Britain have climbed by more than the average net annual salary in the last year.
With a property market boom in full swing, GetAgent analysed the latest house price data from the Land Registry and found that since last year, house prices are up by £20,162. With the average net annual income sitting at £25,246 across Britain, this means the average property has made the equivalent of 80% of the average salary.
However, in some parts of Britain, the average property has made far more in the last year when compared to the average salary of a person living there. You can find the full list of the 92 areas below but for any enquiries as to how your local area has performed just get in touch.
Here are just some to see the most notable increases in house prices compared to the average earnings around Britain.
Bath and North East Somerset is home to the hardest earning bricks and mortar, with house prices up £61,931 since this time last year. This equates to a huge 260% of the average annual net earnings of £23,784 in the area.
South Hams also ranks high, with the £44,339 gained in house prices coming in at 219% of the average net earnings in the area (£20,203).
Wealden (194%) and Rother (191%) in the South East have also seen house prices climb to nearly 200% of the average wage in each area.
However, this high house price growth isn’t restricted to the South, with both Richmondshire (189%) and Selby (186%) in Yorkshire and the Humber also ranking as some of the biggest bricks and mortar earnings when compared to local wages.
In London, property in the London Borough of Merton has increased by £66,429 since this time last year, equating to 181% of the average net annual earnings of £36,715 in the borough. Sutton (165%), Ealing (161%) and Newham (156%) also rank high.
In the West Midlands, North Warwickshire has seen annual house price growth climb to the equivalent of 163% of the average income, while in the East Midlands, Newark and Sherwood (161%) is home to the hardest earning homes.
In the North West, Wirral house prices are up £35,301 when compared to an average net income of £22,844 in the area - 155%.
Pembrokeshire is the hardest earning housing market in Wales, with house prices earning the same as 137% of the average earnings in the area since this time last year.
Redcar and Cleveland ranks top in the North East with an increase of £22,942 in property prices in the last year, 107% of the average salary in the area.
Founder and CEO of GetAgent.co.uk, Colby Short, commented:
“We’re used to positive property price growth in Britain but we’re currently seeing some of the hottest market conditions in years, driven by a mass influx of buyers keen to secure a stamp duty saving.
As a result, house prices are soaring and in some areas, they’ve increased at a higher rate than the average income over the last year.
This is quite astonishing and it isn’t a trend we’re seeing confined to markets in the South, it’s happening pretty much across the board.
We’re a nation of aspirational homeowners and who can blame us, when there’s a chance our homes can earn the same, if not more than we do in a year.”
Table shows house price change between February 2020 and February 2021 (latest available) and how this compares to the average annual net earnings in each region |
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Location |
AveHP Feb 2020 |
AveHP Feb 2021 |
AveHP change £ |
Ave NET salary 2020 |
Ave HP change as % of NET salary |
South West |
£256,208 |
£279,242 |
£23,033 |
£22,684 |
102% |
South East |
£318,182 |
£345,075 |
£26,893 |
£27,468 |
98% |
North West |
£164,760 |
£184,351 |
£19,591 |
£23,120 |
85% |
Yorkshire and The Humber |
£164,353 |
£182,220 |
£17,867 |
£22,747 |
79% |
West Midlands Region |
£198,974 |
£215,451 |
£16,477 |
£23,639 |
70% |
London |
£474,480 |
£496,269 |
£21,789 |
£32,655 |
67% |
East of England |
£289,018 |
£306,346 |
£17,327 |
£26,159 |
66% |
Wales |
£165,953 |
£179,861 |
£13,907 |
£21,869 |
64% |
North East |
£126,993 |
£138,370 |
£11,377 |
£22,106 |
51% |
Scotland |
£149,582 |
£161,529 |
£11,947 |
£24,028 |
50% |
England |
£246,739 |
£268,291 |
£21,552 |
£25,563 |
84% |
Great Britain |
£233,162 |
£253,323 |
£20,162 |
£25,246 |
80% |
Sources |
Gov.co.uk: UK House Price Index (Feb 2020 to Feb 2021 - latest available data) |
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Table shows the 92 areas of Britain where the average house price has increased at the same amount or higher when compared to the average annual net earnings in each area |
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Location |
Region |
AveHP Feb 2020 |
AveHP Feb 2021 |
AveHP change (£) |
Ave NET salary 2020 |
AveHP change as % of Net salary |
Bath and North East Somerset |
SOUTH WEST |
£331,952 |
£393,883 |
£61,931 |
£23,784 |
260% |
South Hams |
SOUTH WEST |
£305,075 |
£349,414 |
£44,339 |
£20,203 |
219% |
Wealden |
SOUTH EAST |
£327,817 |
£377,565 |
£49,748 |
£25,621 |
194% |
Rother |
SOUTH EAST |
£296,460 |
£341,200 |
£44,739 |
£23,457 |
191% |
Richmondshire |
YORKSHIRE AND THE HUMBER |
£204,653 |
£241,999 |
£37,347 |
£19,792 |
189% |
Selby |
YORKSHIRE AND THE HUMBER |
£196,051 |
£242,022 |
£45,971 |
£24,718 |
186% |
Swale |
SOUTH EAST |
£242,835 |
£286,398 |
£43,563 |
£23,516 |
185% |
Merton |
LONDON |
£500,669 |
£567,098 |
£66,429 |
£36,715 |
181% |
Waverley |
SOUTH EAST |
£439,570 |
£501,563 |
£61,993 |
£35,329 |
175% |
Forest of Dean |
SOUTH WEST |
£240,087 |
£279,981 |
£39,894 |
£23,109 |
173% |
Thanet |
SOUTH EAST |
£233,160 |
£269,574 |
£36,415 |
£21,615 |
168% |
Windsor and Maidenhead |
SOUTH EAST |
£468,292 |
£524,607 |
£56,314 |
£34,047 |
165% |
Sutton |
LONDON |
£372,934 |
£416,499 |
£43,565 |
£26,470 |
165% |
North Warwickshire |
WEST MIDLANDS |
£205,180 |
£244,697 |
£39,517 |
£24,228 |
163% |
Brighton and Hove |
SOUTH EAST |
£360,279 |
£400,636 |
£40,357 |
£24,823 |
163% |
Newark and Sherwood |
EAST MIDLANDS |
£181,950 |
£219,918 |
£37,968 |
£23,533 |
161% |
Ealing |
LONDON |
£467,466 |
£520,674 |
£53,208 |
£33,097 |
161% |
Newham |
LONDON |
£371,245 |
£410,288 |
£39,044 |
£24,995 |
156% |
Winchester |
SOUTH EAST |
£408,691 |
£453,658 |
£44,967 |
£28,792 |
156% |
Wirral |
NORTH WEST |
£158,017 |
£193,319 |
£35,301 |
£22,844 |
155% |
Mendip |
SOUTH WEST |
£260,219 |
£291,452 |
£31,233 |
£20,902 |
149% |
East Devon |
SOUTH WEST |
£287,084 |
£317,831 |
£30,747 |
£21,004 |
146% |
Cornwall |
SOUTH WEST |
£234,198 |
£263,014 |
£28,816 |
£19,767 |
146% |
Southwark |
LONDON |
£496,382 |
£545,091 |
£48,709 |
£33,791 |
144% |
Surrey Heath |
SOUTH EAST |
£382,663 |
£432,418 |
£49,756 |
£34,600 |
144% |
South Lakeland |
NORTH WEST |
£240,059 |
£273,592 |
£33,533 |
£23,350 |
144% |
Eden |
NORTH WEST |
£189,222 |
£219,069 |
£29,846 |
£20,832 |
143% |
Lewisham |
LONDON |
£412,802 |
£457,419 |
£44,618 |
£31,712 |
141% |
Pembrokeshire |
WALES |
£180,650 |
£210,376 |
£29,727 |
£21,639 |
137% |
Trafford |
NORTH WEST |
£290,928 |
£328,188 |
£37,260 |
£27,306 |
136% |
City of Bristol |
SOUTH WEST |
£283,290 |
£316,177 |
£32,887 |
£24,185 |
136% |
Melton |
EAST MIDLANDS |
£224,014 |
£251,339 |
£27,324 |
£20,352 |
134% |
Tandridge |
SOUTH EAST |
£452,683 |
£489,702 |
£37,019 |
£27,721 |
134% |
Powys |
WALES |
£185,168 |
£211,801 |
£26,633 |
£20,128 |
132% |
Redbridge |
LONDON |
£417,246 |
£456,098 |
£38,852 |
£29,583 |
131% |
North Devon |
SOUTH WEST |
£246,012 |
£270,374 |
£24,362 |
£18,619 |
131% |
Waltham Forest |
LONDON |
£436,371 |
£474,848 |
£38,477 |
£29,498 |
130% |
Brent |
LONDON |
£467,924 |
£502,264 |
£34,339 |
£26,337 |
130% |
New Forest |
SOUTH EAST |
£334,733 |
£366,687 |
£31,954 |
£24,720 |
129% |
Cheltenham |
SOUTH WEST |
£271,866 |
£304,949 |
£33,084 |
£25,652 |
129% |
Teignbridge |
SOUTH WEST |
£244,182 |
£269,534 |
£25,351 |
£19,916 |
127% |
North Norfolk |
EAST OF ENGLAND |
£257,370 |
£282,123 |
£24,753 |
£19,468 |
127% |
Leicester |
EAST MIDLANDS |
£181,625 |
£206,755 |
£25,130 |
£19,966 |
126% |
Stroud |
SOUTH WEST |
£281,571 |
£311,524 |
£29,953 |
£23,814 |
126% |
Erewash |
EAST MIDLANDS |
£164,969 |
£194,720 |
£29,751 |
£23,835 |
125% |
Guildford |
SOUTH EAST |
£447,296 |
£490,285 |
£42,988 |
£34,502 |
125% |
Rushcliffe |
EAST MIDLANDS |
£282,740 |
£317,830 |
£35,090 |
£28,240 |
124% |
Wellingborough |
EAST MIDLANDS |
£211,436 |
£239,802 |
£28,366 |
£22,861 |
124% |
Chichester |
SOUTH EAST |
£375,828 |
£405,167 |
£29,339 |
£23,646 |
124% |
Hillingdon |
LONDON |
£403,613 |
£435,757 |
£32,144 |
£25,943 |
124% |
Bromsgrove |
WEST MIDLANDS |
£291,535 |
£323,712 |
£32,177 |
£26,005 |
124% |
Hastings |
SOUTH EAST |
£216,230 |
£240,319 |
£24,089 |
£19,855 |
121% |
Reigate and Banstead |
SOUTH EAST |
£402,660 |
£440,698 |
£38,038 |
£31,436 |
121% |
Tendring |
EAST OF ENGLAND |
£214,246 |
£239,036 |
£24,790 |
£20,525 |
121% |
Stratford-on-Avon |
WEST MIDLANDS |
£313,217 |
£345,299 |
£32,082 |
£26,606 |
121% |
South Somerset |
SOUTH WEST |
£229,674 |
£255,102 |
£25,428 |
£21,132 |
120% |
Warrington |
NORTH WEST |
£194,387 |
£222,395 |
£28,008 |
£23,291 |
120% |
Adur |
SOUTH EAST |
£306,644 |
£336,026 |
£29,383 |
£24,484 |
120% |
Derbyshire Dales |
EAST MIDLANDS |
£264,555 |
£293,736 |
£29,181 |
£24,593 |
119% |
St Albans |
EAST OF ENGLAND |
£509,661 |
£554,595 |
£44,935 |
£37,880 |
119% |
Mid Sussex |
SOUTH EAST |
£366,628 |
£400,293 |
£33,665 |
£28,418 |
118% |
Staffordshire Moorlands |
WEST MIDLANDS |
£182,483 |
£209,675 |
£27,192 |
£23,179 |
117% |
Harborough |
EAST MIDLANDS |
£294,874 |
£326,849 |
£31,975 |
£27,294 |
117% |
South Staffordshire |
WEST MIDLANDS |
£229,884 |
£259,408 |
£29,523 |
£25,359 |
116% |
Shetland Islands |
SCOTLAND |
£148,589 |
£174,245 |
£25,656 |
£22,037 |
116% |
Hambleton |
YORKSHIRE AND THE HUMBER |
£232,687 |
£258,673 |
£25,986 |
£22,360 |
116% |
Oxford |
SOUTH EAST |
£406,934 |
£435,372 |
£28,438 |
£24,880 |
114% |
Cannock Chase |
WEST MIDLANDS |
£173,481 |
£197,230 |
£23,749 |
£20,827 |
114% |
Rossendale |
NORTH WEST |
£142,716 |
£166,616 |
£23,900 |
£20,961 |
114% |
Breckland |
EAST OF ENGLAND |
£223,801 |
£247,479 |
£23,679 |
£20,896 |
113% |
Hinckley and Bosworth |
EAST MIDLANDS |
£217,851 |
£244,886 |
£27,035 |
£23,909 |
113% |
Newport |
WALES |
£186,831 |
£211,332 |
£24,501 |
£22,073 |
111% |
Cambridge |
EAST OF ENGLAND |
£443,943 |
£474,824 |
£30,881 |
£28,006 |
110% |
North East Derbyshire |
EAST MIDLANDS |
£194,312 |
£219,482 |
£25,170 |
£22,832 |
110% |
Chorley |
NORTH WEST |
£177,950 |
£202,414 |
£24,464 |
£22,398 |
109% |
South Norfolk |
EAST OF ENGLAND |
£265,747 |
£290,292 |
£24,546 |
£22,594 |
109% |
Redcar and Cleveland |
NORTH EAST |
£122,256 |
£145,198 |
£22,942 |
£21,355 |
107% |
Lichfield |
WEST MIDLANDS |
£255,990 |
£285,989 |
£29,999 |
£27,972 |
107% |
Mid Devon |
SOUTH WEST |
£235,464 |
£258,175 |
£22,710 |
£21,178 |
107% |
Mid Suffolk |
EAST OF ENGLAND |
£260,690 |
£284,272 |
£23,582 |
£22,563 |
105% |
Cheshire West and Chester |
NORTH WEST |
£207,751 |
£233,241 |
£25,490 |
£24,493 |
104% |
East Cambridgeshire |
EAST OF ENGLAND |
£283,994 |
£312,424 |
£28,430 |
£27,390 |
104% |
Monmouthshire |
WALES |
£274,761 |
£302,780 |
£28,019 |
£26,998 |
104% |
Lewes |
SOUTH EAST |
£316,889 |
£343,524 |
£26,635 |
£26,032 |
102% |
Gedling |
EAST MIDLANDS |
£191,029 |
£212,962 |
£21,932 |
£21,515 |
102% |
Lancaster |
NORTH WEST |
£154,034 |
£176,602 |
£22,568 |
£22,140 |
102% |
Broadland |
EAST OF ENGLAND |
£262,813 |
£284,946 |
£22,133 |
£21,754 |
102% |
Barnsley |
YORKSHIRE AND THE HUMBER |
£125,406 |
£147,536 |
£22,129 |
£21,824 |
101% |
Carmarthenshire |
WALES |
£151,502 |
£173,959 |
£22,457 |
£22,172 |
101% |
Canterbury |
SOUTH EAST |
£298,471 |
£323,285 |
£24,814 |
£24,630 |
101% |
Tewkesbury |
SOUTH WEST |
£271,900 |
£295,272 |
£23,372 |
£23,268 |
100% |
West Berkshire |
SOUTH EAST |
£344,701 |
£372,063 |
£27,362 |
£27,473 |
100% |