The 10 most affordable towns in the United Kingdom revealed
Online property website Zoopla has revealed the most affordable towns to buy a home in across the United Kingdom.
According to the platform’s research, two earners looking to buy a home in the UK can expect to pay 4.4-times their average combined annual earnings, with areas such as Scotland and the North East of England offering the best value for money.
All ten of the most affordable towns in the UK are within these two regions, demonstrating the regional divide in affordability within Britain. Scotland dominates the list, claiming seven of the ten spots whilst the remaining three positions are secured by the North East of England.
Affordability is calculated based on a ratio of house price to earnings, where the latter reflects the average earnings of a two-earner household within the local area.
Using this method, local pay is accounted for to offer a more realistic view of affordability than comparing house prices to national average earnings.
The regional disparity in the UK’s housing market is demonstrated by the high prevalence of homes in the South East of England among the least affordable homes to buy in the UK.
House price-to-earnings ratios in areas such as Gerrards Cross and Esher rank among the highest, even more so than the most expensive London boroughs. This shows that homebuyers are paying a premium for quiet countryside abodes a heartbeat from the capital.
House prices in Scotland and the North East are far more affordable compared to average earnings, with the house price-to-earnings ratio amongst the top 10 most affordable towns ranging from 1.23 to 1.63.
In the South East and South West of England, however, houses are far less affordable even when accounting for local salaries. Even in the most affordable towns in these regions, prospective buyers will need to pay more than 3.5-times their annual combined salary for a home.
According to Zoopla, the cost of home ownership is also a key factor behind the rapid rise in rents across the country.
“Our latest Affordable Towns research clearly highlights the wide gulf in the affordability of housing for home buyers across the UK and within regions,” said Zoopla executive director Richard Donnell.
“To have the most affordable town, Shildon in the North East, requiring barely more than one year’s local pay, contrasted against Beaconsfield where the cost is over 15 times average earnings, shows the challenges facing those looking to move home.”
“The days of most people moving within 5 miles of where they live are over,” he said.
“We can see that a growing number of buyers are having to look further afield to find better value for money and they need the tools to make informed buying decisions.”
Below are the ten most affordable towns in the UK overall, as well as the most affordable town in each region in the UK, according to research by Zoopla.
10 most affordable towns in the UK
| Town | Region | Median Home Value | Estimated Annual Household Income | House Price-to-Earnings Ratio |
|---|---|---|---|---|
| Shildon | North East | £73,800 | £60,300 | 1.23 |
| Cumnock | Scotland | £83,700 | £67,200 | 1.5 |
| Saltcoats | Scotland | £96,500 | £70,400 | 1.37 |
| Ardrossan | Scotland | £100,050 | £70,400 | 1.42 |
| Peterlee | North East | £85,900 | £60,300 | 1.42 |
| Irvine | Scotland | £101,100 | £70,400 | 1.44 |
| Kilwinning | Scotland | £102,600 | £70,400 | 1.46 |
| Ferryhill | North East | £92,500 | £60,300 | 1.53 |
| Girvan | Scotland | £107,300 | £69,000 | 1.56 |
| Clydebank | Scotland | £105,800 | £64,900 | 1.63 |
Most affordable town in each region
| Town | Region | Median Home Value | Estimated Annual Household Income | House Price-to-Earnings Ratio |
|---|---|---|---|---|
| Shildon | North East | £73,800 | £60,300 | 1.23 |
| Cumnock | Scotland | £83,700 | £67,200 | 1.5 |
| Ferndale | Wales | £105,300 | £60,500 | 1.74 |
| Workington | North West | £123,300 | £68,700 | 1.8 |
| Mexborough | Yorkshire and the Humber | £152,000 | £63,200 | 2.41 |
| Gainsborough | East Midlands | £171,600 | £62,400 | 2.75 |
| Newcastle- Under-Lyme | West Midlands | £182,200 | £63,300 | 2.88 |
| Cinderford | South West | £253,800 | £74,300 | 3.42 |
| Dover | South East | £242,500 | £68,400 | 3.55 |
| Great Yarmouth | East of England | £210,300 | £58,500 | 3.6 |
| Tower Hamlets | London | £455,400 | £91,700 | 4.97 |
