The gap between average earnings and house prices in York has increased by £223,893 in 25 years.
New data from the Office for National Statistics shows that in 1997, the median house price in York was £57,500, which is £41,998 more than the median workplace earnings at £15,502.
However, in 2023, the median house price was £300,000, which is £265,891 more than the median workplace earnings at £34,109.
Cllr Michael Pavlovic, executive member for housing at the City of York Council, said: “These figures show earnings have increased by 220 per cent, but the price of a home by more than five times over the past 25 years.
“This shows us housing affordability has become a huge problem in York, one that’s pricing out the next generation of homeowners.
“The knock-on effect on rental values is also huge, meaning an increasing percentage of household income is committed to housing costs.
York housing affordability
| Year | Median house price (£) | Median workplace earning (£) | Affordability ratio |
|---|---|---|---|
| 1997 | 57,500 | 15,502 | 3.71 |
| 1998 | 60,000 | 16,832 | 3.56 |
| 1999 | 61,995 | 17,023 | 3.64 |
| 2000 | 72,000 | 19,349 | 3.72 |
| 2001 | 85,000 | 19,917 | 4.27 |
| 2002 | 105,000 | 21,048 | 4.99 |
| 2003 | 131,000 | 21,077 | 6.22 |
| 2004 | 145,950 | 22,442 | 6.5 |
| 2005 | 161,495 | 23,260 | 6.94 |
| 2006 | 167,000 | 22,822 | 7.32 |
| 2007 | 177,000 | 24,912 | 7.11 |
| 2008 | 179,950 | 25,128 | 7.16 |
| 2009 | 163,000 | 25,169 | 6.48 |
| 2010 | 173,000 | 24,346 | 7.11 |
| 2011 | 175,000 | 24,960 | 7.01 |
| 2012 | 177,000 | 26,277 | 6.74 |
| 2013 | 180,000 | 27,604 | 6.52 |
| 2014 | 190,000 | 25,880 | 7.34 |
| 2015 | 210,000 | 25,622 | 8.2 |
| 2016 | 216,500 | 26,113 | 8.29 |
| 2017 | 227,500 | 26,448 | 8.6 |
| 2018 | 235,000 | 26,508 | 8.87 |
| 2019 | 243,250 | 29,611 | 8.21 |
| 2020 | 250,000 | 31,096 | 8.04 |
| 2021 | 275,000 | 32,501 | 8.46 |
| 2022 | 295,000 | 33,077 | 8.92 |
| 2023 | 300,000 | 34,109 | 8.8 |
“The effect is a decline in the standard of living for those working hard and aspiring to own their own homes.
“Not until the government moves beyond empty commitments and delivers significant numbers of new homes across the country over a sustained period will this situation change.”
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Research from the Resolution Foundation found that the UK has some of the oldest, smallest and worst quality housing in the developed world – and also pays the most for it.
Adam Corlett, principal economist at the foundation, said:
“Britain’s housing crisis is decades in the making, with successive governments failing to build enough new homes and modernise our existing stock.
“That now has to change.”
The government says a new £20 million investment in social finance “will build up to 2,000 to 3,000 new homes and improve the capacity of local community groups to deliver housing”.