Home price calculator reveals how affordable homes are where you live – as market soars

Asking prices across Britain are at an all-time high of £327,797, an annual increase of 5.1% on average, according to property firm Rightmove

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How affordable are homes near you?

People in parts of Britain would need to borrow nearly 92 times the average income to be able to afford a house, the data shows.

Analysis of government figures has revealed how unaffordable homes have become in England and Wales – as the ‘frantic’ market continues to soar.

A neighborhood in the Knightsbridge, Belgravia and Hyde Park area of ​​London would see the average family needing to borrow 91.7 times the local average annual income to afford a house.

This makes it the least affordable district of the department.

The average household net income in the lavish neighborhood is estimated at £35,013 a year, but the average home sold for a whopping £3.2million in the year to September 2020.

You can see house prices in your neighborhood using our interactive postcode search below

Outside of London, the most expensive area is in the Oxshott and Stoke D’Abernon area of ​​Elmbridge, Surrey, where homes typically sell for £1.1million, or 24.2 times average income.

Meanwhile, a house in an area of ​​County Durham’s Horden area – the most affordable in England and Wales – could be bought for just 1.6 times the average household income.

There, the average net household income is estimated at £24,166 a year and the median house price at just £38,000.

The most expensive area is in the Oxshott and Stoke D’Abernon area of ​​Elmbridge, Surrey


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The analysis works by comparing the average household income in each neighborhood – areas of around 7,200 people – with the average house prices there.

The data comes as Britain’s top 10 areas for house price rises have also been revealed.

Seven of them are in the North West of England, according to a Rightmove study across the country.

The property company has identified Wallasey in Merseyside as the main property price hotspot.

The average family would need to borrow almost 92 times the national average income to buy in Knightsbridge


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Sellers’ asking prices there are rising by an average of 15.6% a year, almost £24,000 more than a year ago.

In March and April, one in three properties in the city sold within a week, according to data from the Rightmove website.

Nationally, asking prices are at a record high of £327,797, an annual increase of 5.1% on average.

Penzance, Cornwall came third


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Almost a quarter (23%) of properties sell within a week across Britain – the highest proportion recorded by Rightmove.

Leigh in Greater Manchester was second on the list, with asking prices up 12.8%.

This is followed by Penzance in Cornwall, where asking prices rose by 12.5%.

Cornwall recently replaced London as the most searched location on Rightmove.

Many agents also require first-time buyers to have a mortgage in principle before they can view a property, Rightmove said.

A district of London is the least affordable in the country


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He warned homeowners who want to try and find a place to move to before putting their home on the market that it will be much more difficult to book viewings in today’s busy market.

Rightmove property expert Tim Bannister said: “Average asking prices across all locations on the price hotspot list are below the national average, and I expect them to see strong Price growth will continue for the rest of the year, especially since many buyers will be exempt from stamp duty in these areas until the end of September.

The housing market has been described by one expert as ‘frantic’


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“The frenetic market opens up a very real possibility that you could miss out on the home you really want to move into if you haven’t already put yours up for sale, or if you’re a first-time buyer and haven’t already researched first what you can definitely afford.

“We’ve recently seen a much higher proportion of chain-free homes for sale, so it’s clear that some buyers are already choosing to sell first and buy second rather than linking to a chain.

“To put yourself in the best possible position before asking for a visit, I recommend that you prepare a mortgage in principle and be clear on the final asking price you can offer if it is a hot market. where property is likely to go for the best and latest deals.

“Agents tell me that because inventory is so scarce, they advise homeowners to get an offer on their own home first, and they find that many buyers are more willing to then give homeowners a bit more time to find their next place to move before the chain can get going.”

Here are the top real estate hotspots according to Rightmove, with the average asking price in March and the annual increase:

Seven of the top 10 regions are in the North West of England


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– 1. Wallasey, Merseyside, £176,707, 15.6%
– 2. Leigh, Greater Manchester, £160,345, 12.8%
– 3. Penzance, Cornwall, £280,102, 12.5%
– 4. Birkenhead, Merseyside, £145,437, 12.4%
– 5. Wednesdaybury, West Midlands, £172,753, 12.2%
– 6. Lancaster, Lancashire, £199,707, 11.8%
– 7. Sandbach, Cheshire, £280,888, 11.6%
– 8. Rossendale, Lancashire, £207,618, 11.4%
– 9. Oldham, Greater Manchester, £174,925, 11.3%
– 10. Burntwood, Staffordshire, £254,418, 11.2%

Eleanor C. William