The London Borough of Barking and Dagenham has seen the most significant decline in homeownership affordability over the last decade in England, with the table’s top four decliners all in the capital

Moving platform Getamover.co.uk analysed data from the Office for National Statistics (ONS) on the ratio of median house prices to median annual earnings in each English local authority between 2013 and 2023 for the new report.

Data was gathered on the local authorities with the highest increase in house price-to-earnings ratio over the last decade to reveal the spots where homeownership affordability has fallen the most.

England’s average house price has risen by £103,000 over the last decade, with the average annual wage also rising by £7,734. House prices rose at a faster rate than earnings, with the ratio increasing by 21.73%, meaning the average home costs over eight times the average yearly earnings.

While London remains the most unaffordable region to buy a home with a ratio of 11.95, the East Midlands has seen the largest decline in homeownership affordability over the decade with the house price to income ratio rising by 35.58% to 7.43. The North East is the only region of England where wages have increased at a faster rate than house prices. The average cost of a home has risen by £33,000 while annual wages have risen by £7,087, making it more affordable to buy a home in 2023 than 2013.

The London Borough of Barking and Dagenham topped the study as the area with the most significant decline in homeownership affordability across England. House prices more than doubled compared to income with the ratio soaring by 100.73%, the highest increase in the study. While the average price for an existing dwelling rose by £202,500 in the area, the median annual earnings only increased by £2,182.

Hillingdon in West London took the second spot among the areas in England with the largest decline in homeownership affordability. Over the last decade, the average house price in the region shot up by £230,000 to £495,000. Meanwhile, the median annual income of residents has only increased by just £143. The ratio of house prices to earnings has risen by 85.98% during this time.

Waltham Forest took third. The average house prices to income ratio has soared by 70.76%, and despite house prices more than doubling to £520,000 over the last decade, the median annual earnings of residents have gone up by £6,194.

Redbridge is the fourth London borough to be named among England’s areas where the affordability of buying a home has fallen the most. In 2013, the house price to annual income ratio sat at 8.65 in the region, rising by 68.55% to 14.58 in 2023. During these years, the average house price has skyrocketed by £236,500 to reach £506,500, while residents in the area have only enjoyed a rise in median earnings of £3,530,

Oadby and Wigston in Leicestershire is the area outside of London where homeownership affordability has decreased the most, ranking fifth in the overall study. The house-to-price-to-income ratio has risen by 67.90% over the last decade, with the average house price increasing by £129,000 and the median annual income growing by £2,644.

Gedling ranks sixth among the areas of England where the affordability of buying a home has declined most. The Nottinghamshire region has seen house prices soar by 84.8% to £231,000 over the last 10 years, while the median annual income has risen by just 13.11% to £33,454. These figures mean the ratio of house price to income has seen a significant jump of 63.36%, meaning that the average house price in the region is around 6.91 times more than the average annual earnings.

Nottingham itself has also been named as one of England’s worst areas for declining homeownership affordability. Despite the average price of an existing dwelling sitting at a lower £95,500 in 2013, the price has rocketed to £186,000 as of September 2023. Over the same period, the median annual income has increased from £25,217 to £30,151. The average house price was 3.79 times the median income in 2013 and has now almost doubled to 6.17 times the median earnings, representing a rise of 62.80%.

Slough, Basildon and Harlow rounded out the declining affordability table.