The property ladder continues to be out of reach for many people in the city
Bristol has some of the highest property prices in the country(Image: VictorHuang via Getty Images)
A report from the Centre for Cities in January this year revealed Bristol was one of the only places outside the South East where annual salaries were above the national average. The study put Bristol’s average annual salary at £39,312, about £1,200 over the UK average.
However, property prices in Bristol are also significantly higher than the national average. The average sale price of a house in Bristol was £392,949 over the last year, according to property website Rightmove.
The Office for National Statistics puts the average house price in Bristol slightly lower, at £354,000. Either way, property prices in our city far outstrip the UK average, which is £273,000, according to the ONS.
We decided to take a look at a selection of 25 areas around Bristol to see what household income would be required to buy an ‘average’ property in each location. We calculated this based on the assumption mortgage providers will typically lend 4.5 times a borrower’s annual income.
Based on the Rightmove figure, you would need an household income of £87,322 to be able to afford the average house in Bristol. Taking a deeper look into figures for certain areas lays bare just how inaccessible the property ladder is for so many in the city.
Please note, all below figures are according to Rightmove and were correct at the time of writing.
Avonmouth
Average house price: £229,929
Household income required to buy: £51,095
Barton Hill
Average house price: £317,405
Household income required to buy: £70,534
Bedminster
West Street, in Bedminster, was the scene of flag controversy earlier in the year(Image: Alex Seabrook/LDRS)
Average house price: £399,581
Household income required to buy: £88,796
Bishopston
Average house price: £566,546
Household income required to buy: £125,899
Bishopsworth
Average house price: £324,252
Household income required to buy: £72,056
Brislington
Average house price: £350,084
Household income required to buy: £77,796
Bristol city centre
Average house price: £367,971
Household income required to buy: £81,771
Clifton
The average house price in Clifton is over half a million pounds(Image: Getty)
Average house price: £501,744
Household income required to buy: £111,499
Eastville
Average house price: £332,058
Household income required to buy: £73,791
Easton
Average house price: £360,857
Household income required to buy: £80,190
Fishponds
Average house price: £313,340
Household income required to buy: £69,631
Hartcliffe
Average house price: £233,645
Household income required to buy: £51,921
Horfield
Average house price: £453,517
Household income required to buy: £100,782
Knowle
Average house price: £384,625
Household income required to buy: £85,472
Lawrence Weston
Knovill Close, Lawrence Weston.(Image: Google Maps)
Average house price: £261,041
Household income required to buy: £58,009
Montpelier
Average house price: £417,890
Household income required to buy: £92,864
Redfield
Average house price: £330,469
Household income required to buy: £73,438
Redland
Average house price: £575,367
Household income required to buy: £127,859
Shirehampton
Average house price: £305,469
Household income required to buy: £67,882
Southmead
Average house price: £326,079
Household income required to buy: £72,462
Southville
A household income of nearly £100k is now required to buy a home in Southville(Image: PAUL GILLIS / Reach PLC)
Average house price: £434,576
Household income required to buy: £96,572
St George
Average house price: £326,574
Household income required to buy: £72,572
St Pauls
Average house price: £369,765
Household income required to buy: £82,170
Totterdown
House prices in Totterdown have rocketed over the last decade
Average house price: £420,308
Household income required to buy: £93,402
Westbury-on-Trym
Average house price: £538,154
Household income required to buy: £119,590