At a Glance
Average Property Price - ME3
£382,709
63
National percentile
Average Monthly Rent - ME
£1,248
66
National percentile
Average Net Household Income - ME3
£41,147
63
National percentile
Flat / Maisonette Yield - ME
6.2%
84
National percentile
10-Year Annualised Price Growth - ME3
4.2%
72
National percentile
10-Year Annualised Rent Growth - ME
4.8%
89
National percentile
Property Price & Volume Trends
The average property price in ME3 is £383,000, placing it slightly above the national median. Over the past decade, prices have grown at 4.2% annually—a solid pace that sits in the faster half of growth nationally. Transaction activity last year was 349 sales, below the ten-year average of 476, reflecting a softer current market.
Rent & Yield Trends
Across the broader ME postcode, average monthly rent stands at £1,248, positioning the area in the upper half nationally. Rents have grown at 4.8% per year over ten years, among the fastest growth rates in the UK, reflecting sustained tenant demand. Yields have risen from a ten-year average of 4.9% to 6.2% today, indicating improving returns for buy-to-let investors.
Income & Affordability Trends
Average household net income of £41,147 sits slightly above the national average. Affordability for buyers has tightened: the price-to-income ratio stands at 9.4x, up from 7.6x in 2016, making homes harder to access relative to earnings. Renters face similar pressure: the rent-to-income ratio has risen from 26.7% to 29.8%, consuming a larger share of household budgets.
Resident Demographic Profile
The population skews slightly older than average, with those aged 50–64 making up 20.6% and the 65+ group 20.3%, compared to national averages of 19.8% and 19.6% respectively. Ownership is exceptionally strong: 37% own outright and 37.1% own with a mortgage, together accounting for over 74% of households—well above the national combined figure of 60.7%. Private renting is notably lower at 12.4% versus the national average of 21.7%, reflecting the area's owner-dominated character. The employment mix is broadly in line with national norms, with a slight underrepresentation of professionals at 16.2% against 20.5% nationally.