The most affordable homes in the UK are to be found in the north of England and Wales, while London is home to the most expensive areas to buy property. If you live in Burnley, you can buy a property for less than three times the average annual salary, while buyers in Camden and Westminster must pay over 20 times the average annual wage.
Key Takeaways:
- Property in the UK has become 50 per cent less affordable than it was 14 years ago with buyers now needing six times average income to buy the average home.
- Burnley has been named as the most affordable place currently to buy a home in England and Wales, while Westminster in London is the least affordable.
- Buyers need to borrow 6.33 times their income on average to buy a home
“Westminster in London is the least affordable.”