Hereford 10th most affordable place to live in England

Hereford 10th most affordable place to live in England

Hereford 10th most affordable place to live in England

First published in News
Last updated

HEREFORD has been rated as England’s 10th most affordable city to buy a house – with the average house price coming in at just under five times the average local salary.

However times may be changing – Hereford is now noticeably less affordable now than it was 10 years ago.

While the numbers may surprise some, the study – conducted by Lloyds Bank – shows Hereford come in at 16th on a UK top-20 most affordable list dominated by Scottish and northern cities.

In fact only Swansea (17) is located further south than Hereford.

To get on the property ladder in Hereford in 2014, the average house costs £194, 024, compared to £184,215 in 2004.

However while an average house price decline in some parts of the United Kingdom has seen property become more affordable, the same doesn’t appear to be the case in Hereford.

The ratio between average annual earnings and average house price has gone up from 4.58 to 4.78 since 2004 – or the equivalent of around a third of a year’s salary.

If you’re looking at moving, top of the most affordable list nationwide was Stirling in Scotland, while the least affordable was Oxford.

Comments (9)

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3:15pm Wed 12 Mar 14

dippyhippy says...

So let me see if I have got this right.....
The average house price is almost 200,000 pounds, which according to this report, is about 5 times the average earnings for this area. That works out at 40 grand a year!!
This can't be correct....I know very few folk around here, who earn that sort of money!!
So let me see if I have got this right..... The average house price is almost 200,000 pounds, which according to this report, is about 5 times the average earnings for this area. That works out at 40 grand a year!! This can't be correct....I know very few folk around here, who earn that sort of money!! dippyhippy
  • Score: 17

10:48am Thu 13 Mar 14

Herefordian07 says...

Dippyhippy, perhaps the average earnings they are reporting on belong to public sector workers, I suggest we will be targeted by outsiders and city people who will swoop in and buy these £200k homes, local people on the low pay structure we endure here will not be waiting in queue to snap up these lovely affordable bargains.
Dippyhippy, perhaps the average earnings they are reporting on belong to public sector workers, I suggest we will be targeted by outsiders and city people who will swoop in and buy these £200k homes, local people on the low pay structure we endure here will not be waiting in queue to snap up these lovely affordable bargains. Herefordian07
  • Score: 0

1:33pm Thu 13 Mar 14

dippyhippy says...

Afternoon Herefordian07!!!

As a public sector worker myself, I can assure you that neither me, nor any of my colleagues on the front line get 40 grand a year! (This includes teachers and social workers!!)
My partner works within the NHS, and certainly doesn't top 40 grand either!!
If we are to stop Hereford becoming The Retirement Capitol of the Midlands, we need more affordable housing to help folk get on the ladder, and encourage our young people to stay.
Afternoon Herefordian07!!! As a public sector worker myself, I can assure you that neither me, nor any of my colleagues on the front line get 40 grand a year! (This includes teachers and social workers!!) My partner works within the NHS, and certainly doesn't top 40 grand either!! If we are to stop Hereford becoming The Retirement Capitol of the Midlands, we need more affordable housing to help folk get on the ladder, and encourage our young people to stay. dippyhippy
  • Score: 12

3:47pm Thu 13 Mar 14

Herefordian07 says...

Afternoon Dippyhippy, no offence meant - it was a flippant comment mainly aimed at the ruling elite within Brockington towers and their off shoots that are at arms length as featured in this weeks HT, I should have narrowed down my comment to reflect this, my apologies to all front line workers you do a splendid job under arduous circumstances. I agree with your post that our young population will always struggle to get on the property ladder and my post regarding city people being able to afford housing here is reflecting your comment about retirees.
Afternoon Dippyhippy, no offence meant - it was a flippant comment mainly aimed at the ruling elite within Brockington towers and their off shoots that are at arms length as featured in this weeks HT, I should have narrowed down my comment to reflect this, my apologies to all front line workers you do a splendid job under arduous circumstances. I agree with your post that our young population will always struggle to get on the property ladder and my post regarding city people being able to afford housing here is reflecting your comment about retirees. Herefordian07
  • Score: 5

4:38pm Thu 13 Mar 14

dippyhippy says...

Absolutely no apology needed, Herefordian07!!
Why don't you sign up to Hereford Voice??
You always make interesting contributions on here, I'd love to see you have some in put over there!
We are currently discussing the issues surrounding The old Working Boys Home, and the somewhat dodgy plans Herefordshire Council seem to have for it.....this would be ideal for housing, in my humble opinion, but the powers that be appear to have other ideas......
Mizza, if you read this.....come over to HV....there are advantages!!!!
Absolutely no apology needed, Herefordian07!! Why don't you sign up to Hereford Voice?? You always make interesting contributions on here, I'd love to see you have some in put over there! We are currently discussing the issues surrounding The old Working Boys Home, and the somewhat dodgy plans Herefordshire Council seem to have for it.....this would be ideal for housing, in my humble opinion, but the powers that be appear to have other ideas...... Mizza, if you read this.....come over to HV....there are advantages!!!! dippyhippy
  • Score: 1

4:46pm Fri 14 Mar 14

dodger3 says...

Herefordshire is a low salary county-what position in the league table are we there?. Crazy house prices were one of the reasons for the global recession; like dippy hippy says 'we need affordable housing', to keep our young people.
We are obsessed with property prices in this country, buying a house keeps you poor for about a third of your life.
Herefordshire is a low salary county-what position in the league table are we there?. Crazy house prices were one of the reasons for the global recession; like dippy hippy says 'we need affordable housing', to keep our young people. We are obsessed with property prices in this country, buying a house keeps you poor for about a third of your life. dodger3
  • Score: 4

9:41pm Fri 14 Mar 14

Cllr Liz Harvey says...

This is one of those silly statistics stories which paints a false picture.

The Lloyds survey uses average NATIONAL wages to compare the affordability of houses in different geographies - consequently it is a nonsense. The average LOCAL wage for Herefordshire is ~£19.5k which requires a 10x multiplier to afford the average house in Herefordshire.

So this is the 10th most affordable place to live if you work somewhere else. Well that's another useful piece of analysis from the bankers. Thank you Lloyds.
This is one of those silly statistics stories which paints a false picture. The Lloyds survey uses average NATIONAL wages to compare the affordability of houses in different geographies - consequently it is a nonsense. The average LOCAL wage for Herefordshire is ~£19.5k which requires a 10x multiplier to afford the average house in Herefordshire. So this is the 10th most affordable place to live if you work somewhere else. Well that's another useful piece of analysis from the bankers. Thank you Lloyds. Cllr Liz Harvey
  • Score: 10

7:05pm Sat 15 Mar 14

dippyhippy says...

Well said Liz!
Sign up to Hereford Voice, you would be made very welcome!
Well said Liz! Sign up to Hereford Voice, you would be made very welcome! dippyhippy
  • Score: 2

12:59pm Wed 19 Mar 14

Hereford is me says...

Bet they used the Mean when calculating the average income. Next time try using the Mode and see what you get!!!
Bet they used the Mean when calculating the average income. Next time try using the Mode and see what you get!!! Hereford is me
  • Score: 1

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