COUPLES in Redditch would have to save up for 11 years if they wanted to buy a house outright, according to a new study.
New research from MoneySuperMarket has found that Redditch is the 154th most affordable place to live in the UK out of 380 local authorities, with average house prices in the area coming in at around £189,335.
The study found that the average joint salary of a couple in Redditch is £44,328, and the average minimum mortgage deposit required in Redditch is £9,466. Based on the average UK household spend and the average salary for a couple in Redditch, it would require over 11 years of saving to purchase a house outright.
Visit https://www.moneysupermarket.com/mortgages/mortgage-deposit-deficit/ to read the full report on the top 50 least affordable areas, or use the MoneySuperMarket mortgage calculator.
