How much do you need to earn to live in Galashiels compared with Selkirk?

How much do you need to earn?
How much do you need to earn?

A new survey has revealed how much you would need to earn per hour to live in the local area.

And unlike many other areas in Scotland, the hourly rate needed to be able to afford a mortgage on a property in galashiels and Selkirk is relatively similar.

According to a study by Web-Blinds.com, someone would need to have an hourly rate of £9.81 to live in Galashiels, compared with £10.01 in Selkirk.

This can further be broken down into a weekly wage of £367.88 compared to £375.38 and an annual income of £19,129.50 compared with £19,519.50.

Each entry on the list represents a postcode and shows how much you’d need to earn per hour, week and year 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 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.

Planning a move elsewhere? Find out how much you’d have to earn on the Web-Blinds website, here.