House prices are increasing everywhere in the UK and the county of Carmarthenshire is not exempt.
The cost-of-living crisis coupled with stagnant salaries mean the majority of people don’t have the income required to purchase their own place.
Still, there is a difference between trying to buy property in a major city and a small town.
Residents of Carmarthenshire won’t need as much money as those who live in Cardiff to invest in real-estate but that doesn’t mean it’s cheap.
The average salary in Carmarthenshire is currently £27,556 with the average house price being £206,599 according to Rightmove.
So, the average salary in the county would allow you to buy a property ranging between £96,446 to a maximum of £137,780.
Calculated by multiplying the average salary by four and a half – there aren’t many houses in Carmarthenshire that can be bought, particularly with added costs such as deposit and stamp duty.
The company Which states that deposits vary between five to 15 percent of the property price and the standard rate for exchange deposits is 10 percent.
Here are the average house prices for different areas of Carmarthenshire according to Rightmove and the annual income you need to earn for a mortgage:
Ammanford
Average house price: £200,686
Household income required to buy: £44,596
Burry Port
Average house price: £190,064
Household income required to buy: £42,236
Carmarthen
Average house price: £207,151
Household income required to buy: £46,033
Kidwelly
Average house price: £245,115
Household income required to buy: £54,470
Llanelli
Average house price: £170,802
Household income required to buy: £37,956
Llandeilo
Average house price: £235,021
Household income required to buy: £52,226
Newcastle Emlyn
Average house price: £197,000
Household income required to buy: £43,777
Llandovery
Average house price: £284,179
Household income required to buy: £63,150
St Clears
Average house price: £219,550
Household income required to buy: £48,788
Whitland
Average house price: £274,636
Household income required to buy: £61,030
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