Who knew it wasn't London!?
Londoners are used to hearing how impossibly expensive the capital is to live in, after all, web-blinds.com analysed rent prices across UK postcodes and saw that the average person should be earning around £56 an hour (!) to live ‘comfortably’ in the city.
This is because, apparently, rent shouldn’t be more than 35% of a tenant’s income.
Now, obviously that is really not realistic – but what it does show is how pricy things are becoming.
The cost of London rent is preposterous, with most of us spending around 50% of our income just on our accommodation.
We already know where the most desirable place to live in the UK is and where the happiest place to live in the UK is but can you guess where the most expensive place is?
Gasp! It’s not actually London.
Lloyd’s Bank recently released their annual housing affordability analysis, which basically compares the cost of a home against the average pay in the regional area and it doesn’t match. At all.
The average house price in Oxford is £387,37 which is around 10 times the average annual salary of £36,033.
But, unsurprisingly, London took second prize, thanks to house prices going up an average 57% in the last five years.