Since lockdown, many people have changed their priorities in terms of where they want to live.
Instead of the chaos of cities such as London, working from home culture has meant that some people are looking to live in more rural areas.
If you’ve been thinking of moving from London to Surrey, you’ll still get the best of both worlds: the rural countryside and the convenience of being a short commute to London.
READ MORE: Lidl lists 33 places in Surrey where it wants to open stores
The current average value in the UK for a property is £341,117, according to Zoopla. In Surrey, which is perhaps no surprise, it’s higher than average at £653,214.
Most mortgage lenders will let you borrow up to 4.5 times your salary. Of course, there are other things which can help your affordability, such as how big your deposit is.
While you can get 5% deposits under the Government’s mortgage guarantee scheme, this means your mortgage would be far more expensive than if you opt for a standard 10% deposit.
Below, we divided the average house price in the last 12 months by 4.5 to work out how much you’ll need to earn to buy a house in 11 key Surrey towns.
The towns include Guildford, Staines, Walton, Farnham and more.
Walton, Elmbridge
Household income you’ll need to buy: 194,311
Average house price in last 12 months: £874,400
Number of sales based on: 22
Epsom, Epsom and Ewell
Household income you’ll need to buy: £129,027
Average house price in last 12 months: £580,621
Number of sales based on: 745
Guildford
Household income you’ll need to buy: £142,867
Average house price in last 12 months: £642,900
Number of sales based on: 808
Dorking, Mole Valley
Household income you’ll need to buy: £145,051
Average house price in last 12 months: £652,731
Number of sales based on: 286
Reigate, Reigate and Banstead
Household income you’ll need to buy: £151,106
Average house price in last 12 months: £679,977
Number of sales based on: 279
Egham, Runnymede
Household income you’ll need to buy: £120,214
Average house price in last 12 months: £540,965
Number of sales based on: 207
Staines, Spelthorne
Household income you’ll need to buy: £106,109
Average house price in last 12 months: £477,490
Number of sales based on: 345
Camberley, Surrey Heath
Household income you’ll need to buy: £108,455
Average house price in last 12 months: £488,047
Number of sales based on: 589
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Caterham, Tandridge
Household income you’ll need to buy: £123,247
Average house price in last 12 months: £554,612
Number of sales based on: 247
Farnham, Waverley
Household income you’ll need to buy: £153,712
Average house price in last 12 months: £691,705
Number of sales based on: 588
Woking
Household income you’ll need to buy: £126,535
Average house price in last 12 months: £569,408
Number of sales based on: 971
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