Revealed: Probably the most inexpensive locations within the UK to get on the housing ladder and the locations which can be out of attain for first time consumers
- Blackpool, Lancashire was ranked essentially the most inexpensive place within the UK
- Properties in Hull and Lincoln had been additionally discovered to be in attain for first time consumers
- Possibilities of getting on the property ladder in Warwick or Guilford had been slim
By Terri-ann Williams For Mailonline
Revealed: 15:36 EDT, four September 2019 | Up to date: 15:39 EDT, four September 2019
These trying to make their first steps onto the property the ladder within the UK ought to take into account shopping for within the north West as new figures reveal the most effective locations to purchase a primary house.
Probably the most inexpensive place within the UK to buy a property is Blackpool, the place the typical house will set you again round £110,000.
Nevertheless, until you’re employed in Blackpool then connections to main cities could be tough.
Attending to Manchester would take round an hour and fifteen minutes by prepare, whereas attending to Liverpool would take an hour and a half.
The typical family earnings throughout the north West is round £40,053, that means that 100 per cent of properties in Blackpool are deemed to be inexpensive for first-time consumers.
Properties in Blackpool had been deemed to be most inexpensive compared to wages throughout the north West
That is whereas Lincoln (pictured above) was one other space the place each single house was in attain
Hartlepool (pictured above) was additionally deemed as one of many areas with essentially the most affordability
New analysis from Publish Workplace Cash checked out numerous areas throughout the UK, evaluating the quantity properties had been bought for, compared to common earnings within the area.
In eight of the locations searched, no properties had been discovered that could possibly be afforded by a typical purchaser, until that they had monetary assist.
Hull was one of many three areas the place each single house was in attain of the everyday purchaser. Nevertheless, if the north West isn’t for you then Lincoln within the east Midlands is also a viable possibility.
Oxford (pictured above) was discovered to be out of attain for these trying to get on the property ladder
Cambridge (pictured above) was additionally out of attain in addition to Hove, York and Brighton
Locations that ranked within the lowest affordability included Warwick, Guilford and Woking, with researchers discovering that no properties had been in attain for first-time consumers.
That is whereas Oxford, Watford, Brighton, Hove, Cambridge and York had been additionally out of attain for these trying to get their foot on the ladder.
For many who wish to get savvy with their pennies, the most effective return on funding got here from locations similar to Nuneaton and Bedworth, the place property values had gone up by 11 per cent to £179,995.
That is whereas folks in Ipswich noticed essentially the most alternative over the previous yr with the share of properties in attain within the city rose 6 p.c to 88 per cent.
There was additionally excellent news for metropolis employees trying to commute from exterior the capital.
Regardless of locations on the commuter belt similar to Guilford and Woking scoring low, Studying truly noticed a 6 per cent rise within the variety of properties inexpensive for first time consumers.
Again to the north West and it was the identical for these trying to stay inside commuting distance to Manchester.
These trying to commute into Manchester may selected locations similar to Wigan (Manchester Piccadilly station pictured)
80 per cent of properties in Oldham (pictured above), which is simply exterior Manchester, had been classed as inexpensive.
Wigan and Oldham noticed 90 per cent and 80 per cent of properties being courses as inexpensive, whereas simply 61 per cent had been inexpensive in Manchester.
Hartlepool and Southampton had been additionally deemed as inexpensive choices.
The typical wage for full-time employees within the UK is £35,423, whereas it is £12,083 for these in part-time employment.
Commenting on the analysis Publish Workplace Cash’s Ross Hunter mentioned: “Whereas we could also be seeing the primary indications of a ‘buyer’s market’, we nonetheless know that saving for and finally buying a house is a tough course of.
“Finding which areas are most affordable in cities local to you is key to making a personal plan of action.”