Business · Bristol
Bristol housing affordability nears levels not seen since 2015
By Swindon Now Editorial Team · Published
Rising wages and stagnant house prices in Bristol are gradually improving home affordability to decade-old levels, though the city remains significantly more expensive than the UK average.
Home buyers in Bristol are seeing a marginal improvement in housing affordability as local wages continue to rise against a backdrop of steady house prices. Figures from the Office for National Statistics indicate that the average property in the city cost £354,000 in the twelve months leading up to August 2026.
While this represents a 0.9 per cent increase compared to the previous year—matching the national average growth—it remains only marginally higher than the city's property values in September 2022, when the average home cost £353,000. When adjusted for earnings, this cooling in market growth is beginning to narrow the gap between house prices and local salaries.
Data shows that the average full-time worker in Bristol earned £41,565 before tax in 2026. Consequently, the average house price is currently 8.5 times the average annual salary. This ratio is a notable improvement from the 8.8 times recorded last year, and far below the 10.1 times observed in August 2022. To find a comparable affordability ratio of 8.5, one must look back to November 2015.
Despite this trend, Bristol remains one of the more challenging markets in the country for prospective buyers. The city's current house-price-to-earnings ratio of 8.5 sits comfortably above the UK national average of 6.7.
By comparison, the most significant affordability pressures remain in London. Wealthy boroughs such as Kensington and Chelsea continue to lead the country, where the average house price of £1.2 million requires a mortgage equivalent to 20.6 times the average local salary. Outside of the capital, Surrey boroughs like Elmbridge and Mole Valley currently face the highest affordability hurdles in England.
Conversely, Scotland offers the most accessible housing markets in the UK, with Inverclyde recording an average house price of £115,000—a figure just 3.0 times the average local earnings. In England, Burnley currently holds the title for the most affordable market, with an average price of £137,000, representing 3.7 times the local average salary.
While the recent shift in Bristol suggests a slow return to historical affordability benchmarks, the gap between local income and the cost of property ensures the city remains a high-cost area compared to the wider UK market.
Source: Bristol Post · View original