The average house price in Bristol is over ten times higher than the average salary, with house prices having increased by 93 per cent over the last ten years in Bristol. This is compared to a 67 per cent increase for England and Wales.
The average salary in Bristol is currently £33,737 with the average house price in Bristol being £388,893, according to Zoopla. This means the average salary would allow you to buy a property for £151,816 calculated at a maximum mortgage rate of 4.5 times your salary - not much at that price in Bristol and this excludes other costs such as deposit, stamp duty or any other fees.
Dominic Wyatt from Bristol Property Centre said entering the property market for prospective single buyers was “incredibly difficult”, as well as for lower income earners and would generally require a large deposit. He said most home buyers rely on dual income and the disparity gap between salaries and property prices has continued to rise.
