Discover the Salary You Need to Buy a Home in Northern Ireland

Most Affordable Areas
The Mid and East Antrim is the most affordable place in Northern Ireland to buy a house, with an average price of £161,000 and a required salary of £32,200. In contrast, Lisburn and Castlereagh is the most expensive area with a price of £218,000, needing a salary of £43,600.

Regional Comparisons
The Belfast area requires a salary of £33,800 for an average house price of £169,000, just below the median salary. Other areas and their respective salaries are: Ards and North Down £43,600; Causeway Coast and Glens £41,800; Newry Mourne and Down £40,400; Antrim and Newtownabbey £39,000; Fermanagh and Omagh £37,200; Mid Ulster £35,600; Armagh City Banbridge and Craigavon £33,600; Derry City and Strabane £33,600.

Affordability Challenge
The income-to-loan ratio of 4.5 is a critical factor for mortgage lenders in determining the loan amount. The UK average home requires an income of £53,600, posing challenges for single-income households. The article also highlights the variation in salary shortfall across different regions, with particular insight on Northern Ireland.