Average Home 'Costs 10 Times Annual Income Of Full-Time Worker

The typical UK home costs more than 10 times the annual income of full-time workers, analysis of official figures has found. And the situation is only slightly better on first-time buyer homes, which cost almost eight times the average income. A housing charity has claimed the findings show home ownership is now a "distant dream" for millions across the country. The average property in the UK is currently valued at £284,000 by the Office for National Statistics, while first-time buyers typically paid £215,000 to climb on to the property ladder. By contrast, the median gross annual earnings for full-time employees is £27,200, according to latest official figures. Read more on the Daily Mail website.