• Privacy policy
  • T&C’s
  • About Us
    • FAQ
    • Meet the Team
  • Contact us
TLE ONLINE SHOP!
  • TLE
  • News
  • Politics
  • Business
  • Sport
  • Opinion
  • Elevenses
  • Entertainment
    • All Entertainment
    • Film
    • Lifestyle
      • Horoscopes
    • Lottery Results
      • Lotto
      • Thunderball
      • Set For Life
      • EuroMillions
  • Food
    • All Food
    • Recipes
  • Property
  • Travel
  • Tech/Auto
  • JOBS
No Result
View All Result
The London Economic
SUPPORT THE LONDON ECONOMIC
NEWSLETTER
  • TLE
  • News
  • Politics
  • Business
  • Sport
  • Opinion
  • Elevenses
  • Entertainment
    • All Entertainment
    • Film
    • Lifestyle
      • Horoscopes
    • Lottery Results
      • Lotto
      • Thunderball
      • Set For Life
      • EuroMillions
  • Food
    • All Food
    • Recipes
  • Property
  • Travel
  • Tech/Auto
  • JOBS
No Result
View All Result
The London Economic
No Result
View All Result
Home Property

Homes out-earn humans in 34% of Britain over the last year

Alexa, show me a country that has seriously lost its way.

Jack Peat by Jack Peat
2022-07-29 16:45
in Property
Photo: PA

Photo: PA

FacebookTwitterLinkedinEmailWhatsapp

Homes have earned more per hour than their owners in the last year across more than a third of the nation (34 per cent).

GetAgent analysed the annual change in house price growth across Britain and what this equates to as an average hourly rate for full-time employment. They then looked at how this compares to the actual average hourly rate for full-time employment in each respective area.

The research shows that across Britain, the average property has increased by £32,893 over the last year. With the average person working 1,903.2 hours per year, this increase equates to an average hourly rate of £17.28.

At the same time, the average Brit working full-time has earned £18.84 per hour, outearning their home by just £1.56 per hour.

However, on a regional level, homes have out-earned their owners in three regions on an hourly basis over the last year – the South West (+£7.20), the East of England (+£4.68) and the South East (+£3.99).

What’s more, when analysing the market at local authority level, GetAgent found that the annual rate of house price growth has equated to a higher rate of hourly pay across no less than 34 per cent of local authorities, when compared to the actual hourly rate of pay for the average full-time employee.

In South Hams, Devon, the average house price has increased by £79,290 in a year. This is the equivalent of earning £41.66 an hour, a stark £23.70 more than the local average hourly earnings of £17.96.

RelatedPosts

Inside Boris and Carrie’s London townhouse – on sale for a whopping £1.6m

Fury over plans to erect huge 5G mast next to world famous Victorian mansion dubbed National Trust’s ‘jewel in the crown’

Six Reasons To Replace Your Entry Door Today

Brits are encouraging wildlife in their gardens

In Harborough, Leicestershire, homes have outperformed their owners by £18.43 per hour; in the Vale of Glamorgan in Wales, it’s £16.05 per hour; in Islington, London, it’s £15.87 per hour; and in Mid Sussex, homes have earned £14.82 per hour more than the average person.

Co-founder and CEO of GetAgent.co.uk, Colby Short, commented: “House prices have boomed during the pandemic, so much so that bricks and mortar is earning more than the average hourly wage in over a third of Britain.

“This will be welcome news for those already on the ladder but it highlights the very tough task facing those yet to achieve this life milestone.

“Not only are house prices climbing at extraordinary rates, but our ability to afford them simply isn’t matching this pace, with the earnings available to the average person remaining largely static.”

Related: Sam Tarry says ‘time to fight back and reclaim’ Labour as he joins picket line

Subscribe to our Newsletter

View our  Privacy Policy and Terms & Conditions

Trending on TLE

  • All
  • trending
Abdollah

‘Rescue us’: Afghan teacher begs UK to help him escape Taliban

CHOMSKY: “If Corbyn had been elected, Britain would be pursuing a much more sane course”

What If We Got Rid Of Prisons?

More from TLE

Brexit: Starmer says Labour will not fight ‘yesterday’s wars’ and doesn’t ‘want to rejoin’

Woman who lived in the UK for most of her life is refused British citizenship

Top 5 Films of the 21st Century So Far

Film about 3,700 Troubles victims comes at apt moment, directors say

Man accidentally tucks jumper into jeans & can pinpoint exact moment he became middle aged

Chi-Raq: Film Review

Windrush scandal ‘foreseeable and avoidable’

Set For Life Results for Monday 8 August 2022 Tonight’s winning numbers

Government Blamed For Emergence of ‘Highly Questionable’ Pension Liberation Schemes

PPI companies eye up payday loan claims

JOBS

FIND MORE JOBS

About Us

TheLondonEconomic.com – Open, accessible and accountable news, sport, culture and lifestyle.

Read more

© 2019 thelondoneconomic.com - TLE, International House, 24 Holborn Viaduct, London EC1A 2BN. All Rights Reserved.




No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Entertainment
  • Lifestyle
  • Food
  • Travel
  • JOBS
  • More…
    • Elevenses
    • Opinion
    • Property
    • Tech & Auto
  • About Us
    • Meet the Team
    • Privacy policy
  • Contact us

© 2019 thelondoneconomic.com - TLE, International House, 24 Holborn Viaduct, London EC1A 2BN. All Rights Reserved.