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Ratio of lower quartile house price to lower quartile gross annual (workplace-based) earnings (75) Metric type
- Help text
- This is the lower quartile housing affordability ratio (workplace-based) and is calculated by dividing house prices by gross annual earnings, based on the lower quartile of both house prices and earnings. The lower quartile (25th percentile) is the value quarter of the way through the range when ordered from lowest to highest.
This measure of affordability indicates the extent to which employees can afford to live where they work, not where they necessarily already live, which effectively reflects the house-buying power of employees. A higher ratio indicates that on average, it is less affordable for a resident to purchase a house. Conversely, a lower ratio indicates higher affordability in a local authority.
The earnings data are from the Annual Survey of Hours and Earnings which provides a snapshot of earnings at April in each year. Earnings relate to gross full-time individual earnings on a place of work basis. The house price statistics come from the House Price Statistics for Small Areas, which report the median and lower quartile price paid for residential property and refer to a 12 month period with April in the middle (year ending September).
- Modified
- 03 Apr 2020
- Data last updated
- 23 Mar 2022
- Also known as
- Housing affordability ratio - ratio of lower quartile house price to lower quartile earnings
- Short label
- Lower quartile housing affordability ratio (workplace-based)
- Status
- Live
- Output precision
- 2
- Polarity
- a low value is good
- Measure
- Ratio
- Dataset
- Ratio of house price to workplace-based earnings (lower quartile and median)
- Source
- Office for National Statistics
- is found in the following lists
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