Home buyers need to earn £60,000 to afford a mortgage

Credit: PA

People in Bristol need to earn more than £59,000 per year before they can afford the average mortgage.

Average salaries in the city are only £26,400 - meaning a Bristolian hoping to get onto the property ladder would need to see their salary rise by £32,600 or 123%.

These figures come from a Home Truths report which says that Bristol faces a combination of high houses prices and low wages.

The average monthly rent has risen to £954, with private renters having to spend 43% of their income just to pay their rent.

The average house price in the South West is £256,054 which is lower than the national average of £282,011.

However, across the region some areas are much more expensive than others.

The 5 most expensive areas in the South West and their average house price:

  • Cotswolds - £382,104

  • Bath and North East Somerset - £349,391

  • East Dorset - £342,648

  • Poole - £339,201

  • Christchurch - £337,368

The 5 least expensive areas in the South West and their average house price:

  • Gloucester - £178,545

  • Plymouth - £179,494

  • Torbay - £204,239

  • Swindon - £205,925

  • Sedgemoor - £206,644