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How affordable are Hillingdon properties?

The property market is in recovery and house prices are on the increase, but how affordable is property in the Uxbridge area? A simple trick of the trade to help you judge the affordability of an area is to work out the ratio of average property...

The property market is in recovery and house prices are on the increase, but how affordable is property in the Uxbridge area? A simple trick of the trade to help you judge the affordability of an area is to work out the ratio of average property prices to average full-time salaries. The lower the ratio, the more affordable the property is.

Our research shows that Hillingdon currently has an average property value of around £355,000 and an average full-time salary of £31,000. This gives a ratio of 11, but take that pay to Hayes with it’s lower average property prices and the ratio drops to a more modest 8. Meanwhile in Ealing the average property costs £580,000 and the average wage is lower (according to official labour market statistics) at £30,000, this makes the ratio a high 19.

We also had a look at neighbouring Slough and found the average full-time salary there is £26,900 and with house prices averaging £285,000 the ratio is similar to Hillingdon, so for it’s residents Hillingdon is about as affordable as Slough. We found Harrow to be less affordable for residents there.

In a rising market these ratios get higher, property becomes harder to afford as prices increase faster than wages. Taking all this into account, now could be a good time to consider investing in the Hillingdon property market.

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