Question: What is the average price a first-time buyer pays for a property?

Answer:

The average price first-time buyers are paying to get on to the property ladder has hit a record high of £207,693, according to the latest Halifax First Time Buyer Review.”

Source: Moneywise:
https://t.co/C5aHSWGKiV

Question: What is an average wage in Devon?
Answer:

Families in Devon need to earn almost £60,000 a year now to afford the average mortgage which represents a 156% pay rise for average earners.

With average Devon salaries now of £23,197, a worker would need a staggering £36,279 pay rise (156%) to £59,476 to get a mortgage for an average home in the county.

A couple each earning a combined average wage totalling £46,394 would still need a 28% pay increase to get a standard 80% mortgage.

With average private monthly rents in Devon of £687 this accounts for 43% of average monthly net pay. Average property prices are £260,209 which is more than 11 times the average salary.”

https://www.westwardhousing.org.uk/news-and-media/westward-building-to-meet-housing-needs-highlighted-in-report-1121/

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