Property City’s house prices out of reach for many despite higher wages

A REPORT from the Centre for Cities in January this year revealed Bristol was one of the only places outside the South East where annual salaries were above the national average.

- Angus MCINTYRE

The study put Bristol's average annual salary at £39,312, about £1,200 over the UK average.

However, property prices in Bristol are also significantly higher than the national average. The average sale price of a house in Bristol was £392,949 over the last year, according to property website Rightmove.

The Office for National Statistics puts the average house price in Bristol slightly lower, at £354,000. Either way, the city’s property prices far outstrip the UK average, which is £273,000, according to the ONS. We take a look at 25 areas around Bristol to see what household income would be required to buy an ‘average’ property in each location. We calculated this based on the assumption mortgage providers will typically lend 4.5 times a borrower's annual income.

Based on the Rightmove figure, you would need a household income of £87,322 to be able to afford the average house in Bristol. Taking a deeper look into figures for certain areas lays bare just how inaccessible the property ladder is for so many in the city.

>> Avonmouth

>> Average house price: £229,929

>>> Household income required to buy: £51,095

>> Barton Hill