First-time buyer mortgage affordability in the UK 2013-2023

In the UK, the only occupation group which could easily afford a mortgage in 2023 was managers, directors, and senior officials. First-time buyers in these positions spent on average 27.6 percent of their take-home pay on mortgage payments. At the other end of the spectrum were sales and customer service employees, who spent close to 55 percent of their take-home pay on mortgage payments.

First-time mortgage payments as a share of take-home pay in the United Kingdom (UK) from 2013 to 2023, by occupation

Characteristic	Managers, directors, and senior officials	Professional occupations	Associate professional & technical occupations	Administrative and secretarial	Skilled trade occupations	Caring, leisure, and other service	Sales and customer service	Process, plant, and machine ops	Elementary occupations	All occupations
2013	19.72%	23.26%	26.96%	38.42%	33.68%	45.33%	44.87%	36.42%	45.44%	28.77%
2014	21.15%	25.01%	28.98%	40.98%	36.06%	49.19%	48.18%	38.67%	48.59%	31.07%
2015	21.26%	25%	28.95%	40.35%	35.82%	48.44%	46.96%	37.94%	47.61%	30.81%
2016	20.95%	24.75%	28.87%	39.69%	35.35%	47.3%	45.51%	37.2%	46.26%	30.26%
2017	20.02%	23.9%	27.77%	37.98%	33.97%	45.38%	43.04%	35.97%	44.19%	29.04%
2018	19.8%	23.74%	27%	37.04%	33.44%	44.6%	42.1%	35.4%	43.08%	28.48%
2019	19.25%	23.32%	27.21%	36.05%	32.68%	42.76%	40.97%	34.51%	41.99%	27.79%
2020	19.31%	22.86%	27.24%	35.55%	33.98%	41.56%	40.33%	35.35%	39.39%	27.28%
2021	22.2%	25.86%	31.12%	39.32%	36.33%	46.1%	44.34%	37.54%	44.73%	30.52%
2022	23.03%	27.38%	33.05%	41.46%	37.07%	47.21%	46.43%	38.08%	46.18%	31.75%
2023	27.63%	32.97%	39.77%	49.77%	44.75%	54.76%	54.87%	45.23%	54.67%	37.78%

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Release date

2024

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Region

United Kingdom

Survey time period

2013 to 2023

Supplementary notes

The figures are calculated using the typical first-time buyer price and a loan amounting to 80 percent of the price, structured over 25 years. Figures on take-home pay refer to mean earnings for a full-time worker on adult rates and the tax and national insurance rates for the respective year.

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