New study reveals how much you need to earn to buy a house in Plymouth

Sarah Parker's picture
Authored by Sarah Parker
Posted: Monday, October 5, 2020 - 20:18

New data from GoCompare has discovered the salary needed in cities across the UK in order to afford a property, revealing those buying a property in Plymouth at an average cost of £203,200 would need to earn on average £36,594 a year to afford a house, making it one of the more reasonable places in the UK to buy!

In the UK overall the new findings reveal that the average cost of a house in Plymouth is £231,946 which would need a salary of £41,771 to maintain - a fair increase from the national average salary of £29k.

The study analysed 2020 house prices across the nation to find the most expensive and affordable locations to buy a property - and the salary needed to purchase a home in the UK's major towns and cities.

Comparing the standard property types of detached, semi-detached, terraced houses and a flat in Plymouth, naturally, a detached house is the most expensive costing the average person £322,662 needing an investment salary of around £58k.

Property Type

Average Price

Salary needed


£322,662 £58,108


£202,201 £36,414


£170,976 £30,791


£116,960 £21,063

Table 1 - Average price and salary needed for different property types in Plymouth

These are the 5 most expensive locations to buy a home in the UK 

Location Detached Semi-Detached Terraced Flat Average price Salary needed
London £889,308 £581,358 £506,179 £429,401 £601,562 £108,335
Cambridge £820,259 £486,797 £416,693 £273,966 £499,429 £89,942
Oxford £785,439 £495,353 £387,477 £264,118 £483,097 £87,001
Brighton £688,324 £450,193 £403,385 £302,180 £461,021 £83,025
Edinburgh £576,520 £364,937 £290,114 £210,166 £360,434 £64,911

It's no surprise that London tops the list for most expensive, a detached house in the capital costs close to a million, at an eye-watering £889.308.

Flats in London are also highly-priced, costing an average of £429,401. For those with dreams of living in the big city, they'll need an average of £108,335 to buy a home. For the more affordable flat, prospective owners would need a salary of £77,331.

Following London are Cambridge, Oxford and Brighton all in the south, whilst the only northern city to place on the most expensive list is the capital of Scotland - Edinburgh, where the average home price is £360,434.

These are the 5 most affordable locations to buy a home in the UK 

Location Detached Semi-Detached Terraced Flat Average price Salary needed
Burnley £162,429 £106,416 £72,682 £58,895 £100,128 £18,032
Stoke-on-Trent £170,421 £110,767 £86,216 £70,397 £109,450 £19,711
Blackpool £177,680 £121,840 £89,884 £68,723 £114,532 £20,626
Barnsley £191,925 £118,663 £94,765 £73,857 £119,803 £21,575
Middlesborough £208,963 £120,855 £84,846 £70,018 £121,171 £21,822

The most affordable place to live in the UK is in Burnley, where the average cost of a property is £100,128 needing a salary of just over £18k to make ends meet. In the city, a detached house would cost 162k, while a flat is even more affordable at £58,895!

Northern cities are the most affordable locations for prospective homeowners, as you can buy a detached house in Stoke-on-Trent, Blackpool and Barnsley for less than £200k. The cheapest home to buy in the entire UK is a flat in Burnley which costs an average of £58,895, which requires a salary of just £10k to maintain comfortably.

Discover the cost of properties across the UK in the full report:

Welcome to Devon 247, the county’s newest news, features, blog and sport platform.

This site has merged with The Plymouth Daily to offer even more of the content readers have told us they enjoy so much.

And, as with Plymouth, you can post your own content for free on D247 by clicking here.

Our focus is on positive, community news which, sadly, seems to be in short supply these days.

Thank you for visiting!

The Plymouth Daily - logo