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Tuesday, 30 April 2013

Life in Waverley, Surrey

Depressing reading, for anyone wanting to buy property in my locality.

Mortgage companies are currently offering around 3.5 times basic salary in home loans, and requiring around 20% deposit to access the bulk of their deals, meaning one needs to earn around £70,000 per annum and have £60k equity in their existing property or tucked away in order to afford the average semi.

Even the average flat requires a £40k salary plus a £40k deposit.

Waverley

Average house price
£422,155
Detached£636,759
Semi-detached£361,069
Terrace£299,749
Flat£199,568
(source: BBC, data date: Oct-Dec 2012)

Compared to my birthplace the difference is stark...


Calderdale

Average house price
£150,071
Detached£270,960
Semi-detached£149,053
Terrace£109,777
Flat£126,373

Still, things could be worse.  I could be based in a London borough such as Hammersmith...


Hammersmith and Fulham

Average house price
£653,439
Detached£0
Semi-detached£1,334,153
Terrace£1,092,643
Flat£493,058


@JamesFirth

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