Five towns in the top 10 are found in Ayrshire. While the best deals in London are to be found in Barking and Dagenham, it was revealed. The property market was central to last week’s Budget as Chancellor Rishi Sunak unveiled measures to make buying a house easier. Now, property website Zoopla has revealed the towns and cities which offer the most affordable homes, analysing house price-to-earnings ratios, based on a two-earner household on the average salary for the area.
The top five most affordable towns in Britain are clustered around Scotland and the North.
However, the best value homes in the country are found in Shildon, County Durham, best known as being home to the National Railway Museum. The average house price there is £59,468.
Affordability has improved the most in Cleator Moor, Cumbria, where the change in house price-to-earnings ratio has dropped by 10 percent since 2019.
The good news is there are pockets of affordability across the country.
Malvern in Worcestershire, at the foot of the Malvern Hills, a designated area of outstanding natural beauty, has seen its ratio drop. House prices here stand at around £265,710.
Hoddesdon, in Hertfordshire, has also seen a big improvement in affordability, with average house prices of £396,623.
Grainne Gilmore, head of research at Zoopla, said: “This data shows where buyers can benefit from some of the most affordable markets across the country, especially movers who have built up some equity in their current home.
“Capital values in the North of England and Scotland are relatively lower than in the South of England, meaning many of the most affordable areas are clustered in these regions.”
1. Shildon, County Durham 2. Cleator Moor, Cumbria 3. Kilbirnie, Ayrshire 4. Cumnock, Ayrshire 5. Egremont, Cumbria 6. Stevenston, Ayrshire 7. Ferryhill, County Durham 8. Ferndale, Rhondda Cynon Taf 9. Irvine, Ayrshire 10. Girvan, Ayrshire
1. Cleator Moor, Cumbria 2. Whitehaven, Cumbria 3. Malvern, Worcs 4. Egremont, Cumbria 5. Beith, Ayrshire 6. Millom, Cumbria 7. Hoddesdon, Herts 8. Bideford, Devon 9. Torrington, Devon 10. Waltham Cross, Herts