The average house price in Great Britain has increased at more than five times the rate of average earnings over the past 12 months, according to new analysis by eXp UK.
Based on Government data, the study shows that the average home now costs £271,403, up £10,087 year-on-year.
By contrast, the average salary has risen by just £1,921, from £38,413 to £40,334, creating an affordability ratio of 5.3 to 1 for house price growth versus income growth.
The East of England and East Midlands saw the highest disparity, where property prices outpaced earnings by a factor of 6.7. Scotland and Wales followed closely at 6.4 and 6.3 times respectively. Yorkshire and the Humber and the North East each recorded a ratio of 5.8.
Even in London, where earnings are typically higher, property values still increased at 4.7 times the rate of wage growth, matching the West Midlands.
The smallest gaps were found in the North West (3.8), South East (3.7), and South West (3.3), but all regions reported prices rising faster than earnings.
Adam Day, head of eXp UK and Europe, said: “This research underscores the continued challenge for homebuyers as property values continue to rise significantly faster than incomes.
“With house prices growing more than five times quicker than earnings nationwide, buyers face increased pressure and reduced affordability.
“Regional variations highlight that while some areas remain relatively accessible, many buyers will continue to find the market increasingly difficult to enter or move within.”
