In 108 out of 380 local authority districts, the average home actually earns more than its owners, according to new research from Halifax.

This marked an increase in the number of homes outpacing their owners’ net earnings, from 19% a year ago.

The vast majority of these areas are in London, the south east, and east of England, with these three regions representing 97 of the 108 (90%).

But the biggest gap between rising property values and earnings was in Three Rivers in Hertfordshire, where house prices increased by an average of £147,990 over the last two years, beating average take-home earnings in the area by £97,992.

The top performers outside southern England were Warwick in the West Midlands and South Northamptonshire in the East Midlands, with house price gains in excess of earnings of £24,723 and £14,837 respectively during 2014 and 2015.

Martin Ellis, housing economist at Halifax, said: “The housing market recovery over the last few years has led to substantial price rises in some areas of the country, particularly in London, the south east and the east of England. This has resulted in homes increasing in value by more than total take-home earnings for the average homeowner in many areas of the country.

“Clearly, this is good news for some homeowners. However, it does make conditions tougher for those looking to buy their first home in such areas, with prices being pushed increasingly out of range for many young people.”

Over the past decade, house prices have increased by more than total pay in four areas across the UK: Brent (£11,760), Haringey (£8,255), Hammersmith & Fulham (£4,438) and Cambridge (£1,767).