Research by the Whitehill & Bordon Regeneration Company has revealed the most affordable areas of East Hampshire based on average house price and household income.
Its research revealed East Hampshire’s average house price is currently £536,932. The average household annual income is £52,540, meaning the affordability score for East Hampshire is 10.2.
This is an increase of 1.7 in the past year because of the fact that the average house price has increased by around £90,000 while income has remained unchanged.
East Hampshire’s most affordable postcodes, PO9 (Havant, Rowlands Castle) and PO7 (Waterlooville, Denmead), are home to respective house price to income ratios of 8 and 8.1.
But, perhaps more surprising is that the popular and generally far less affordable GU postcode also ranks within the top three best in East Hampshire for relative property affordability.
Its affordability score is, therefore, 8.4, the third lowest in the whole of East Hampshire.
This is despite the fact that the area has been the focus of an extensive and ongoing level of regeneration, most notably with the creation of Prince Philip Park.
However, the company says the town’s “increased desirability” is starting to have an impact, with house prices climbing by £80,000 in the past year alone.
James Child, project lead at The Whitehill & Bordon Regeneration Company, said: “True affordability relies heavily on good incomes as well as accessible house prices. That’s why attracting businesses big and small to Whitehill & Bordon is such an important part of the work we’re doing with the regeneration project.”
Average house price and household income, and affordability ratio, for postcode regions of East Hampshire in July 2022:
Average house price
Average household income
PO9 (Rowland’s Castle)