FIRST-time buyers in Worcester now need to borrow four times their salary to get on the property ladder, new figures show.

Latest Office for National Statistics Data shows the average price for a house in the city is £299,808 with residents typically earning £30,048 per year.

This means that a couple with a 15 per cent deposit saved up would have to borrow 4.24 times their salary to buy a mid-market home.

The figures, compiled by online mortgage broker Mojo Mortgages, analysed salary data from the Office of National Statistics and January 2022 property valuation data from Zoopla to establish the average income needed to buy a property in each location.

Out of the one hundred UK towns and cities featured in the research, Worcester appeared in 39th position in the rankings, with Bath topping the list as the UK's least affordable location.

Oxford followed closest behind (7.29) with London (7.13) completing the top three most expensive locations for first-time buyers.

Richard Hayes, CEO of Mojo, said: "First-time buyers could now borrow as much as seven times their salary – but this would be a big stretch for many couples who would struggle to buy a property in Worcester.

"Lack of affordable housing has repercussions, not only for the individuals involved but the wider economy and community if workers in lower-paid jobs are priced out of the market."

On the Worcester News Facebook page, we asked readers if they agreed with broadcaster Kirstie Allsopp's assertion that young people should sacrifice "luxuries" to save for their house.

Simone Priest wrote: "I bought my house at 22/23 and I have to say I did sacrifice my social life to enable me to do so and lost friends because of it.

"Do I regret it? No. It was hard and I had a mattress on the floor and no carpet for so long.

"Depends on the individual and what they will put up with to get on the ladder."

Jon Alix Haywood added: "Kirstie Allsopp needs to get in touch with reality.

"Many young people are already looking at cheaper areas and even then at part rent or part-ownership.

"The gap between earnings and prices is bigger than ever."

To see the full research, go to mojomortgages.com/mortgage-income-multiples-the-cost-of-borrowing-in-2022