The ratio is the second highest level since 1999, behind 8.8 in 2021 and rising from 8.4 in 2022.
According to the report, average disposable household income was at £35,000 for the financial year ending in 2023 in England, while the average house price was £298,000.
The results found that only the top 10% highest-income households in England could afford an average priced home with fewer than five years of household income.
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Meanwhile, average house price to disposable household income ratios were 5.8 in Wales, 5.6 in Scotland and 5.0 in Northern Ireland for the same timeframe.
The report also noted that in London the average home was unaffordable for any household income decile, while in the other three regions the average home was only affordable to the top decile.
Throughout England, Wales, Scotland and Northern Ireland, for low-income households, average priced homes are “unaffordable”, meaning they cost more than five years of income.
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