How much do you need to earn an hour to buy in each Edinburgh postcode?

The New Town is the most expensive area in Edinburgh. Picture: TSPL
The New Town is the most expensive area in Edinburgh. Picture: TSPL
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A survey of Edinburgh postcodes has revealed how much you would have to earn per hour to afford a mortgage in each area of the capital.

The price difference between buying a house in the city’s most desirable areas compared to more affordable districts may surprise some residents.

The average house price in the New Town is a whopping £394,911 - meaning potential homeowners will have to earn £32.44 an hour to afford a home there, according to a study by Web-Blinds.com.

Each entry on the list represents a postcode and shows how much you’d need to earn per hour to buy a property there. It’s based on a single person working a 37.5 hour week and mortgage repayments being 35 per cent of the income.

The company analysed the average house price in each of Britain’s 2,643 postcodes to find how much would be needed to be earned per hour to live in each area.

The EH10 postcode, which includes Bruntsfield and Morningside, is the next most expensive - with an hourly wage of £27.62 required to afford a mortgage.

The EH11 postcode covering Gorgie and Stenhouse is the most affordable, at £11.40 an hour.

The average house price in the UK increased by £10,000 last year. The annual rise of 4.9 per cent outstrips the 2.6 per cent increase in wages in the last three months of 2016.

One property firm has said house prices in Edinburgh are set to soar by 23.4 per cent between now and 2021.

The full list

EH1 (Old Town) £21.65

EH2 (New Town and Princes Street) £32.44

EH3 (West End, Tollcross, Fountainbridge) £27.48

EH4 (Dean Village, Comely Bank, Barnton, Cramond) £20.17

EH5 (Granton, Ferry Road) £14.87

EH6 (Leith, Newhaven) £13.21

EH7 (Inner city) £14.05

EH8 (Southside, Newington and Canongate) £13.48

EH9 (Marchmont, Grange, Blackford, Causewayside) £23.62

EH10 (Bruntsfield, Morningside, Fairmilehead) £27.62

EH11 (Haymarket, Gorgie, Stenhouse, Sighthill) £11.40

EH12 (Murrayfield, Corstorphine, Gyle) £16.77

EH13 (Colinton, Oxgangs) £19.99

EH14 (Slateford, Longstone, Wester Hailes, Juniper Green, Currie, Balerno) £18.65

EH15 (Portobello, Duddingston) £16.15