What you need to earn to live in Cumbernauld and Kilsyth
A new survey has revealed how much you would need to earn per hour to live locally.
The price difference between buying a house in Cumbernauld, nearby Calloch and Kilsyth might surprise some people.
While you need to earn an average of £5.39 to afford a mortgage on a property in the Cumbernauld G67 postcode, you’d need to double that if you fancy living in the G68 Balloch postcode, according to a study by Web-Blinds.com.
Each entry on the list represents a postcode and shows how much you’d need to earn per hour, week and year to buy a property there.
It’s based on a single person working a 37.5 hour week and mortgage repayments being 35 per cent of the income.
The company analysed the average house price in each of Britain’s 2,643 postcodes to find how much would be needed to be earned per hour to live in each area.
The average house price in the UK increased by £10,000 last year. The annual rise of 4.9 per cent outstrips the 2.6 per cent increase in wages in the last three months of 2016.
Planning a move elsewhere? Find out how much you’d have to earn on the Web-Blinds website, here.
G65: £9.34; £350.25; £18.213
G67: £5.39; £202.13; £10,510.50
G68: £12.71; £476.63; £24,784.50