Revealed: the UK’s most expensive houses and their eyewatering mortgage costs

• The cost of one month’s mortgage payment on the UK’s most expensive home is 20 times London’s average annual salary
• Salisbury is home to the second most expensive home – with mortgage payments coming to £76,000

The cost of one mortgage payment on the UK’s most expensive home is more than 20 times London’s average annual salary, new research has revealed.

Furniture experts BedKingdom.co.uk analysed ONS data on the British towns and cities with the highest median house price and compared it to each place’s most expensive house.

The study revealed that the cost of just one month’s mortgage payment on London’s most expensive home – 2-8a Rutland Gate in London – comes to an incredible £874,919.87, double London’s average house price and 20 times the average yearly income in the capital.

Formerly owned by the billionaire Rafic Hariri, ex-prime minister of Lebanon, 2-8a Rutland Gate is worth a spectacular £205 million, which would mean a 10% deposit would come to £20.5 million. It hosts 45 bedrooms, a swimming pool and underground parking.

Salisbury had the most expensive property outside London with Newhouse Estate on the market for £18 million. The Grade I listed Jacobean mansion with 905 acres of land costs 46 times the average house price of the area. The monthly mortgage with a 10% deposit of £1.8 million would be £76,822 – more than twice the average annual salary.

Oxford has the third most expensive home on the market – the grade II listed mansion of Summertown Villa built in the 1830s – which was originally on sale for £10 million but has been reduced to £8.75million.

This is 16 times the average house price in Oxford, which means that a deposit of 10% would be £725,000, and the monthly mortgage repayments would come to £37,344. As a result, one month’s mortgage payment comes to £3,492 more than the city’s annual average wage (£33,852). The lucky owner would get two acres of land, six bedrooms, an orangery and be in walking distance of the city centre.

Winchester has the UK’s second highest median house price, which currently stands at £470,583. Its most expensive house on the market is the grade II Dower House of Crawley in Winchester, which is currently on sale for £6 million, approximately 12.7 times the average house price in Winchester.

It hosts seven bedrooms, a self-contained flat, tennis court, strip of woodland and an orangery. A mortgage for the Dower house with a 10% deposit of £600,000 would make the monthly repayments £28,168. just under the average amount of £32,739 that people in Winchester earn each year.

Cambridge has the lowest priced house in the UK’s most expensive regions, at £3.05 million. The property Woodlands Close is seven times the area’s average house price, and a monthly mortgage payment based on a 10% deposit of £134k would come to £13,017. The property has seven bedrooms an indoor swimming pool and home cinema.

A spokesperson for BedKingdom.co.uk said: ‘The UK’s average house price has risen by 9.8% in the past year, and with wages growing at a much slower rate, many people fear they won’t be able to ever get on the housing ladder. It’s fascinating to compare the average cost with some of the most expensive homes in the country, with prices beyond comprehension even for people who would consider themselves well off.”

The UK’s most expensive houses

Cities	Average Salary (£)	Average House Price (£)	Most Expensive House (£)	Monthly Mortgage cost for most expensive house (£)
London	43,212	564,695	205,000,000	874,919
Salisbury	29,785	392,714	18,000,000	76,822
Oxford	33,852	459,973	8,750,000	30,942
Winchester	32,739	470,583	6,000,000	28,168
Bath	29,250	380,787	5,213,000	22,248
Chichester	29,525	425,614	4,500,000	19,205
Chelmsford	35,146	349,714	3,950,000	16,858
Brighton and Hove	30,820	404,763	3,750,000	16,004
Truro	23,930	356,788	3,525,000	15,044
Cambridge	37,840	460,188	3,050,000	13,017

ENDS

For further information please click the link for bedkingdom.co.uk who commissioned the data.