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10 most affordable places to buy a property in Britain revealed by Zoopla


PROPERTY website Zoopla has revealed the most affordable places to buy a home in Britain.

The list isn’t just based on house prices, as it also combines average earnings in each area.

Zoopla has rounded up the ten most affordable areas to buy a property

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Zoopla has rounded up the ten most affordable areas to buy a property

It may come as no surprise that the most affordable towns are clustered around Scotland and the North West of England.

Shildon in County Durham came out top for affordability with an average house price of £59,468 and gross annual household earnings of £53,446.

Zoopla says this puts this area’s house price to earnings ratio at 1:11.

Second in the list was Cleaton Moor in Copeland, again in the North East, which has an average house price of £96,269.

10 most affordable places in Britain to buy a property, according to Zoopla

ZOOPLA has revealed the top ten most affordable places to buy a home in Britain.

The findings are based both on house prices and average earnings.

  1. Shildon, Durham, North East:
    Average house price – £59,468
    Gross annual household earnings – £53,446
  2. Cleator Moor, Copeland, North West
    Average house price – £96,269
    Gross annual household earnings – £82,924
  3. Kilbirnie, North Ayshire, Scotland
    Average house price – £76,303
    Gross annual household earnings – £62,338
  4. Cumnock, East Ayrshire, Scotland
    Average house price – £77,414
    Gross annual household earnings – £61,859
  5. Egremont, Copeland, North West
    Average house price – £80,694
    Gross annual household earnings – £82,924
  6. Stevenston, North Ayrshire, Scotland 
    Average house price – £106,771
    Gross annual household earnings – £62,338
  7. Ferryhill, Durham, North East
    Average house price – £72,264
    Gross annual household earnings – £53,446
  8. Ferndale, Rhondda Cynon Taf, Wales
    Average house price – £77,421
    Gross annual household earnings – £55,297
  9. Irvine, North Ayrshire, Scotland
    Average house price – £87,478
    Gross annual household earnings – £62,338
  10. Girvan, South Ayrshire, Scotland
    Average house price – £88,587
    Gross annual household earnings – £63,102
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This is compared to average annual household earnings in the area of £82,924.

Zoopla says the third most affordable place is Kilbirnie in North Ayrshire in Scotland, where house prices are typically £76,303 and earnings are roughly £62,338.

On the other end of the spectrum, Girvan in South Ayrshire, Scotland, came tenth with average property costs of £88,587 and average earnings of £63,102.

The gross annual household earnings for all the properties in the list are based on a two-earner household, while the research looked at the 1,000 largest towns in Britain.

To put it into perspective, each house price is also significantly less than the average across the UK which Zoopla says currently stands at £305,397.

What help is out there for first-time buyers?

GETTING on the property ladder can feel like a daunting task but there are schemes out there to help first-time buyers have their own home.

Help to Buy Isa – It’s a tax-free savings account where for every £200 you save, the Government will add an extra £50. But there’s a maximum limit of £3,000 which is paid to your solicitor when you move. These accounts have now closed to new applicants but those who already hold one have until November 2029 to use it.

Help to Buy equity loan – The Government will lend you up to 20% of the home’s value – or 40% in London – after you’ve put down a 5% deposit. The loan is on top of a normal mortgage but it can only be used to buy a new build property.

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Lifetime Isa – This is another Government scheme that gives anyone aged 18 to 39 the chance to save tax-free and get a bonus of up to £32,000 towards their first home. You can save up to £4,000 a year and the Government will add 25% on top.

Shared ownership – Co-owning with a housing association means you can buy a part of the property and pay rent on the remaining amount. You can buy anything from 25% to 75% of the property but you’re restricted to specific ones.

“First dibs” in London – London Mayor Sadiq Khan is working on a scheme that will restrict sales of all new-build homes in the capital up to £350,000 to UK buyers for three months before any overseas marketing can take place.

Starter Home Initiative – A Government scheme that will see 200,000 new-build homes in England sold to first-time buyers with a 20% discount by 2020. To receive updates on the progress of these homes you can register your interest on the Starter Homes website.

The property website noted how house prices climbed by 0.3% in January, which was 12.4% above the same point last year.

It comes as the stamp duty holiday – which has now been extended – promoted higher levels of activity.

The extension means buyers in England and Northern Ireland will not have to pay stamp duty on the first £500,000 of property if they complete before June 30. 

Then from July, the tax-free threshold will drop to £250,000 until September, and then return to its normal limit at £125,000 from October.

The temporary holiday was introduced to get the property market moving again following the coronavirus crisis, and was due to end on March 31.

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However, many people had been left scrambling to complete their transactions before the deadline.

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Zoopla said buyers in the South East, where house prices are often higher than average, are particularly likely to benefit from the extension.

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 that many of the most affordable areas are clustered in these regions.”

Here’s how you can get on the property ladder with just a 5% deposit by using the new Help to Buy equity loan.

Alternatively, the government is launching a mortgage guarantee scheme for buyers with the same-sized deposits.

Check out our guide to buying your first home, including how much you can borrow and the help available.

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