Most affordable places for single home buyers identified by property website
Wage growth has helped improve the affordability of homes in southern England over the past year, Zoopla said.
Aberdeen in Scotland has been identified in a study as the most affordable city for single people looking to buy a home in Britain.
At £119,350, the average one or two-bedroom home in Aberdeen equates to 3.0 times typical local earnings, Zoopla calculated.
Liverpool was placed second, with an average one or two-bedroom home valued at £130,800, equating to 3.7 times average local earnings.
The website said that wage growth has helped improve the affordability of homes in southern England over the past year.
Over the past 12 months, house prices have risen by just under 1.5% in southern England excluding London, compared with earnings growth of 5.6%, Zoopla said.
It said this has helped to improve affordability in cities such as Bristol, Oxford, Portsmouth and Cambridge.
Take your time and do your research before making that ultimate commitment
Daniel Copley, a consumer expert at Zoopla, said: “For singletons, buying a first home can feel a little bit like dating and just like dating, first impressions matter.
“However, it’s important to dig deep into your potential new home as it’s what’s below the surface that determines long-term compatibility. Take your time and do your research before making that ultimate commitment to swipe right on a home.”
Here are the top 10 most affordable locations to buy a one or two bedroom home, according to Zoopla, with the average property value followed by the house price-to-earnings ratio:
1. Aberdeen, Scotland, £119,350, 3.0
2. Liverpool, North West, £130,800, 3.7
3. Glasgow, Scotland, £152,270, 4.1
=4. Sheffield, Yorkshire and the Humber, £156,990, 4.2
=4. Newcastle, North East, £150,360, 4.2
6. Leeds, Yorkshire and the Humber, £178,020, 4.8
=7. Cardiff, Wales, £198,920, 5.3
=7. Nottingham, East Midlands, £162,830, 5.3
9. Birmingham, West Midlands, £188,240, 5.4
10. Southampton, South East, £194,260, 5.5
Here are the top 10 least affordable areas to buy a one or two bedroom home, according to Zoopla, with the average property value followed by the house price-to-earnings ratio:
1. Kensington and Chelsea, London, £925,870, 17.1
2. Westminster, London, £784,230, 14.9
3. Camden, London, £657,200, 14.3
4. Hammersmith and Fulham, London, £612,990, 12.3
5. Islington, London, £585,520, 11.5
6. Oxford, South East, £364,400, 8.7
=7. Three Rivers, South East, £406,400, 8.5
=7. Cambridge, South East, £391,400, 8.5
9. Hertsmere, South East, £357,100, 8.2
10. Epping Forest, South East, £378,200, 7.9