Residents in many UK areas are spending over four-fifths of their income on their mortgage, according to new research.
Property infantry firm Sell House Fast has analysed mortgage and salary data across the UK to reveal the areas with the greatest mortgage burden – the proportion of the average salary spent on mortgage repayments.
The UK areas, outside of London, where the highest % of wages goes toward mortgage repayments
| Rank | Area | Median annual net pay | Average house price | Average annual mortgage repayment | Annual mortgage repayments as a percentage of net annual pay |
| 1 | Elmbridge | £39,675 | £737,718 | £38,247.53 | 96.4% |
| 2 | Hertsmere | £33,881 | £551,461 | £28,590.90 | 84.4% |
| 3 | Windsor and Maidenhead | £36,751 | £586,184 | £30,391.14 | 82.7% |
| 4 | Epsom and Ewell | £35,380 | £560,957 | £29,083.23 | 82.2% |
| 5 | London | £35,761 | £561,587 | £29,115.89 | 81.4% |
| 6 | Tandridge | £32,776 | £510,269 | £26,455.27 | 80.7% |
| 7 | Three Rivers | £36,969 | £565,485 | £29,317.98 | 79.3% |
| 8 | Oxford | £32,641 | £496,578 | £25,745.45 | 78.9% |
| 9 | Guildford | £35,633 | £540,919 | £28,044.34 | 78.7% |
| 10 | St Albans | £41,778 | £628,556 | £32,587.95 | 78.0% |
When accounted for, London boroughs dominate the top 10 most mortgage-burdened areas of the UK. Kensington and Chelsea is the least affordable place to own a home, with annual mortgage repayments of £70,595 – equivalent to almost 172% of the average local salary. Elmbridge is the only UK area that breaks into the London-dominated top 10, ranking 6th.
Elmbridge is, therefore, the least affordable area outside London, where repayments of almost £38,248 a year amount to over 96% of the average local salary (£39,675).
It’s followed by Hertsmere, Windsor and Maidenhead, Epsom and Ewell, and Tandridge – all commuter-belt hotspots where demand and quick transport links can keep prices high.
In each of these districts, homeowners are spending over four-fifths of their income on their mortgage, compared to the national average of 50.9%, showing that affordability pressures can extend beyond the capital’s borders.
You can find the full study here: https://sellhousefast.uk/blog/mapping-the-uks-mortgage-burden-where-homes-are-most-and-least-affordable/
