Revealed: How much you need to earn to afford to buy a home in Shropshire
The average salary is £20,000 too low to afford the country's typical house price, according to new research - but how much do you have to earn to afford a house in Shropshire?
Research from Go Compare has revealed the household incomes needed to earn to afford a home in different areas of the country.
The comparison website’s analysis of HM Land Registry data showed people would need an income of £53,913 to buy an average property in the UK.
The research was calculated on a 90 per cent mortgage, with a 5.5 per cent interest rate over 25 years - it also assumed that a mortgage would take up one-third of a person's pre-tax income.
The average salary for full-time workers in the UK last year was £34,963.
In Telford & Wrekin, the salary needed to buy a semi-detached house (at an average of £206,667) in Telford is £41,119 - around £10k more than a Telfordian's average of £32,400 a year.
