Are you on a tight budget but hoping to get your foot on the property ladder? We’ve come up with this report to help you do that!
Londonderry, in Northern Ireland was cited to be the most affordable U.K. city for buying a property in 2021, according to an analysis by British bank Halifax.
Cities like Carlisle, in the northwest of England, had seen housing affordability improve this past year.
Here’s the rundown of the top 10 most affordable places to buy in the U.K. this 2021.
Londonderry topped Halifax’s annual ranking of most affordable U.K. cities for the third year in a row, with an average house price of £155,917 ($215,632), and people in the city earning £33,138 a year on average.
Halifax worked out that this meant the typical house cost 4.7 times the average salary of the city’s residents, known as a price-to-earnings ratio.
Halifax used figures from its own database of house prices, as well as data on pay from the Office for National Statistics to calculate the price-to-earnings ratio for 61 U.K. cities, for the 12 months to June 2021.
