This is how much you need to earn to buy a property in the UK

You’ve probably noticed that there is a disparity between salaries and the cost of properties in the UK.

(If you’re one of the lucky ones with a bucket of cash lying around, you can stop reading now).

New data has revealed just how you need to earn to be able to afford a home in Britain – and it’s not great news.

The average cost of a house in the UK is £254, 630, which requires a yearly salary of £45, 664 – which is substantially more than the national average of £29,000 per year.

Findings by GoCompare also showed the difference in property prices across the country, including the most expensive city (London, of course) and the most affordable (Burnley).

Brace yourself – the average cost of a flat in the capital is £429,401 – meaning you’ll need to bring in £77,331 every year.

Meanwhile, over in Burnley, a salary of £18,032 will could see you get a detached house worth over £100,000.

If you get a promotion and a few more thousand per year, you could even buy yourself two flats worth £58, 895 each.

The most expensive cities to buy property in the UK – average house cost versus salary

London: £601,562 / £108,335 (for a house, specifically)

Cambridge: £499,429 / £89,942

Oxford: £483,097 / £87,001

Brighton: £461,102 / £83,025

Edinburgh: £360,434 / £64,911

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