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​Which Cornish seaside town has the highest house price to wages ratio?

By WBCraig  |  Posted: August 14, 2014

Housing

Which Cornish town has the highest house price to wages ratio?

Comments (8)

The average house in Cornwall is more than 10 times the average annual wage of those working in the area, a new survey has revealed.

The average house price in Cornwall is £185,006, compared to the average annual wage of £17,390, according to the new research by Labour’s Southern Taskforce.

The research shows that, in Cornwall, Mevagissey and St Austell had the lowest ratio of 10.6 with average property prices of around £184,000.

Padstow had the highest ratio at 22, with an average house price of £381,812.

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This 10.6 ratio is higher than that of house prices to wages in England and Wales of 7.8.

The study reveals the ratio of average house prices to wages at coastal towns, cities and local authority areas along the south and east coast of England, as well as the pressure put on housing by second homes.

A spokesman said: “Around the South’s coast, wages are often low and house prices high, making it impossible for local people to buy a home of their own.”

Find your town:

The house prices in the following towns have been compared to the average annual wage in Cornwall of £17,390 to calculate the ratio, based on property prices between February 2013 and February 2014.

Mevagissey – house price to wage ratio: 10.6

Average house price: £184,424

St Austell – house price to wage ratio: 10.6

Average house price: £184,343

Porthleven – house price to wage ratio: 11.8

Average house price: £205,306

Newquay – house price to wage ratio: 12.1

Average house price: £210,041

Penzance – house price to wage ratio: 12.2

Average house price: £212,805

Looe – house price to wage ratio: 12.5

Average house price: £217,031

Perranporth – house price to wage ratio: 13.6

Average house price: £237,070

Bude – house price to wage ratio: 14.1

Average house price: £245,968

Falmouth – house price to wage ratio: 15

Average house price: £261,328

Truro – house price to wage ratio: 15.3

Average house price: £266,462

St Ives – house price to wage ratio: 17.1

Average house price: £297,209

Fowey – house price to wage ratio: 18.7

Average house price: £324,912

St Mawes – house price to wage ratio: 19

Average house price: £329,998

Wadebridge – house price to wage ratio: 21.4

Average house price: £371,670

Padstow – house price to wage ratio: 22

Average house price: £381,812

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8 comments

  • PaddyTrembath  |  August 16 2014, 9:39AM

    parsnippasty, "average", is a coverall term for Mean, Median, and Mode, all of which are reached by statistical analysis of raw data. The article does not state which "average" it is using. And, as you're trying to be so precise, wouldn't 10 houses be a Hamlet, and not a Village? It should be noted that the term "Statistics", is derived from "State Arithmetic", which says it all really!

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  • parsnippasty  |  August 15 2014, 11:19PM

    For example: A village has 10 houses... 9 are valued at £100,000... One, the village mansion, is valued at £2,500,000... The average price in that village for a house is £340,000.... Or three times the cost of the mean house price.... Which makes this article farcical, and a misrepresentation of the actuality... A look in country life will show properties going for £4,000,000 a look in Marshall's Redruth, properties for £120,000...Where now the "average" price?

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  • break  |  August 15 2014, 11:17PM

    This may answer the question of what is affordable. The affordability price is most likely to be found by studying ASHE (Annual Survey of Hours and Earnings http://tinyurl.com/le9gytq )

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  • parsnippasty  |  August 15 2014, 11:13PM

    For example: A village has 10 houses 9 are valued at £100,000. On, the village mansion, is valued at £2,500,000 The average price in that village for a house is £340,000. Which makes this article farcical.

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  • break  |  August 15 2014, 7:36PM

    Doubtful anything will be affordable if people don't have jobs.

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  • PaddyTrembath  |  August 15 2014, 9:11AM

    This raises the inevitable question, again...................Just what is "Affordable"?

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  • parsnippasty  |  August 14 2014, 8:45PM

    Ridiculous thing to measure. Anyone with any understanding of maths will tell you that average gives no real indication of anything in this case. It's the mean and median of wages and prices which should be compared.

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  • parsnippasty  |  August 14 2014, 8:40PM

    Ridiculous thing to measure. Anyone with any understanding of maths will tell you that average gives no real indication of anything in this case. It's the mean and median of wages and prices which should be compared.

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