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House buying becomes even more expensive in Dumfries and Galloway

Daily Record logo Daily Record 6 days ago Marc McLean & Dumfries and Galloway Standard

Householders are having to fork out more than five times their annual disposable income to buy a house.

The average home in Scotland cost £166,183 to buy in 2021, according to a new report by the Office of National Statistics (ONS).

Meanwhile, the average household had an average disposable income of £30,262 a year.

That means the average household has to spend 5.5 times their income to buy the average house.

Back in 2004, the earliest date available, the average home cost 4.3 times the average household’s income.

Meanwhile, it was revealed earlier this year that house prices have risen by an average of £15,572 in Dumfries and Galloway in the past year.

Figures showed a 10.9 percent hike, climbing from £143,358 in March 2021 for the average property in this region to £158,930 in March this year.

This works out at the value of houses rising by £43 every day.

However, the inflation of the housing market was much higher in other parts of Scotland, with house prices in East Lothian rising £109 per day and £102 per day in Edinburgh.

Still, Scotland is still more affordable than other parts of the UK.

Across England as a whole, the average household has to spend 8.7 times their income to buy the average house.

In London and the South East, the average home in the capital costs 14.4 times the average disposable income in the area.

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