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Affordability Index 2021

House prices must drop by an average of 44 percent across the UK, according to research from Open Property Group.

Based on an average annual UK salary of £32,319.60 for a single person, those who dream of owning a home can do so if prices drop to £141,398*. Currently, the UK average stands at £251,500.

The disparity of home ownership becomes significant when data is analysed across the top 10 most and least affordable homes across the UK.

For the fourth consecutive year, the South is the most expensive place to buy a home and the North the most affordable, according to average salaries and house prices within those cities.

Durham tops the most affordable charts again, based on a mortgage of 3.5 times the average salary in that city. In fact, the house price has room to drop by 8 per cent and still be affordable, assuming the buyer has a 20 per cent deposit*.

But moving from second place in 2020, to first, is...

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