The easiest way to judge the affordability of
property within an area is to look at the ratio of the average property price
to the average salary. In Weymouth, DT4
the average price is £211k for a three bed house whilst the average salary is
£21,237. This is a ratio of 8.83.
In Dorchester the affordability ratio is 9.74,
meaning property is slightly less affordable.
No surprise there then but perhaps the issue is not this measure of
affordability but the other.
Deposit!! A 5% deposit is in the
order of £15/20k
Tenants’ inability to raise that sort of money is
driving demand for rental property, something we see every day in this
office. If you would like some advice
about buying to let, where to buy, what to buy, what lets best or quickest do
come by for a chat at the Martin and Co office at the top of St Thomas Street
in Weymouth.
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