Average room price is double average UK salary: ONS

Average room price is double average UK salary: ONS

The latest ONS statistics for house price per square meter and per room has revealed that the average room price the UK is £57,065 - double the average UK annual salary.

Between 2004 and 2016 the price per habitable room in England and Wales has risen by around 45%.

The highest house price per square metre (which includes both houses and flats) is in London with an average cost of over £6,500 for each square metre.


Between 2004 and 2016, price per area in London nearly doubled (98%) with the East of England and the South East both increasing by around 55% over the period.

The borough of Kensington and Chelsea is the most expensive area to buy a house, with an average price of £19,400 per metre squared, around eight times the England and Wales average.

At the lower end you would pay £777 per metre squared in Blaenau Gwent, a third of the England and Wales average and less than 5% of the prices in Kensington and Chelsea.

Andy Sommerville, Director at Search Acumen, commented: “Today’s figures crudely highlight the extent of the affordability crisis that is hindering the dream of home ownership for millions. To put today’s figures into context, the average price per room in the UK is £57,065, double the average UK annual salary.

“While these figures highlight a widening North/South divide, the issue of making property more affordable remains a nationwide one.

“Our research shows that England will reach a housing shortfall of a million homes by 2020. With Theresa May’s pledge for affordable housing only expected to fund 25,000 additional homes, it is clear government’s current appetite for intervention will not bring the dream of homeownership back to reality.

“The industry must act now to address this shortfall to stop the cost of homes for everyday people reaching premium and prime levels.”

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Kelvin Lloyd
Kelvin Lloyd 09 Oct 2017

IT is up, to the Planners. If they will only give permission for bungalows on certain (suitable) sites, they will be built.

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maggie swift
maggie swift 09 Oct 2017

It's just the beginning of the shocking rise.

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maggie swift
maggie swift 09 Oct 2017

I have recently read that the bungalows can provide social housing for elderly residents in London.

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zoe glover
zoe glover 05 Oct 2017

Update! Worst company I have ever dealt with. Undervalued a Cambridge property by over 100k, wont take on any evidence of valuation including a RICS valuation done 3 years ago for the very same value...

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Paul Edwards
Paul Edwards 27 Sep 2017

Its nonsense articles such as this that make it harder to get clients to realise just how difficult the market is out there. When you see Rightmove and there are more 'price reduced' then 'new' most days...

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Tom Allen
Tom Allen 20 Sep 2017

Absolutely agree with you!

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RyanGeo
RyanGeo 18 Sep 2017

A sharp correction would be a less dramatic expression to use. That is already underway in certain sectors in Reading where I practice as Chartered Surveyor

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sean benton
sean benton 01 Sep 2017

Identity theft is a thread for any profession. So,people should stay alarmed. I once take help from a letting agent and came to know that letting agents are taking every precaution to prevent fraudulent...

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Mark N.
Mark N. 30 Aug 2017

We have seen a surge in instructions over August and that should continue into September too.

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Chris
Chris 30 Aug 2017

Unfortunately, all the legislation bears its force on Landlords and ignores, naively, the effect of Rogue Tenants on the ability of landlords to keep houses in repair and offer properties for rent at reasonable...

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Christian Donovan
Christian Donovan 18 Aug 2017

The write-down on house values, combined with the fall in the GBP saddled the fund?s property portfolio with a 1.4% loss in the second quarter. The shocking amount of $240 million.

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Samantha Goodman
Samantha Goodman 11 Aug 2017

Interesting point of view.

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