UK Housing News
EXCLUSIVE STUDY: The Most and Least Affordable Areas to Buy a Home in the UK
Hopkins Homes
A Recent research reveals the UK's most and least affordable regions for homebuyers in 2024.
According to the study by Hopkinshomes.co.uk, a real estate and zero-energy bill expert, Scotland is among the most affordable areas, while London dominates the least affordable category.
Angus in Scotland is the most affordable area in the UK, with an average house price of £164,076 and a house price-to-earnings ratio of 2.31. In terms of affordability, Angus outshines several other regions in the UK.
On the contrary, Kensington and Chelsea in London is ranked as the least affordable area in Britain, with an average house price of £1,220,511 and a house price-to-earnings ratio of 16.61. This stark contrast highlights the significant disparity in housing affordability within the UK.
Hopkinshomes.co.uk evaluated affordability across 325 areas in England, Scotland, and Wales using data on average house prices, percentage changes since 2020, house price-to-couples earnings ratios, and average council tax. Combining these factors, they calculated an affordability score for each area, adjusting for various economic conditions. This comprehensive analysis provides a clear picture of the housing market in the UK.
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Scotland is prominently featured in the list of most affordable areas, while London dominates the least affordable category.
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Angus, Scotland, is the most affordable area in the UK, with an average house price of £164,076 and a house price-to-earnings ratio of 2.31.
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Kensington and Chelsea, London, is the least affordable area in Britain, with an average house price of £1,220,511 and a house price-to-earnings ratio of 16.61.
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The City of Westminster, London, the second least affordable area in the UK, surprisingly has the lowest council tax of £1,218.
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City of London couples earning the highest, at £116,480, need six times their annual income for a house, while Oadby and Wigston couples, earning the lowest, at £48,901, need five times their yearly income.
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Blaenau Gwent and Merthyr Tydfil in Wales have seen the highest percentage increases in house prices (11.03% and 11.34%, respectively) since 2020.
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Since 2020, Wandsworth in London has seen the slowest rise in house prices at just 0.51%, while prices in Southwark, London, have fallen by 0.74%.
20 Most Affordable Areas to Buy a Home in the UK
1. Angus, Scotland - Final Score: 85
Angus ranks as the most affordable place in the UK to buy a house, with an average house price of £164,076 and a house price-to-earnings ratio of 2.31. The area's final score of 85 reflects its stable housing market.
2. West Dunbartonshire, Scotland - Final Score: 84.1
West Dunbartonshire has an average house price of £136,668 and a house price-to-earnings ratio of 2.01. The area has experienced a price rise of 5.34% since 2020 and is ranked 2nd in affordability.
3. Aberdeenshire, Scotland - Final Score: 83.2
Aberdeenshire has an average house price of £200,276 and a price-to-earnings ratio of 2.85. This area has seen a smaller price increase of 3.67% since 2020 and is ranked 3rd.
4. North Ayrshire, Scotland - Final Score: 82.9
North Ayrshire has an average house price of £130,943 and a price-to-earnings ratio of 1.76. The area has witnessed a price increase of 6.54% since 2020 and is ranked 4th.
5. North Lanarkshire, Scotland - Final Score: 82.5
North Lanarkshire has an average house price of £138,557 and a price-to-earnings ratio of 1.89. The area has experienced a price rise of 7.03% since 2020 and is ranked 5th in affordability.
6. Inverclyde, Scotland - Final Score: 82.3
Inverclyde has an average house price of £125,836 and a price-to-earnings ratio of 1.9. The area has seen a 7.14% price increase since 2020 and is ranked 6th.
7. East Ayrshire, Scotland - Final Score: 81.5
East Ayrshire has an average house price of £128,549 and a price-to-earnings ratio of 1.88. The area has experienced a 7.48% increase in house prices since 2020 and is ranked 7th.
8. South Lanarkshire, Scotland - Final Score: 81.3
South Lanarkshire has an average house price of £166,162 and a price-to-earnings ratio of 2.21. The area has a final score of 81.3 and is ranked 8th in affordability.
9. Renfrewshire, Scotland - Final Score: 80.9
Renfrewshire has an average house price of £156,917 and a price-to-earnings ratio of 2.34. The area has experienced a 7.06% price rise since 2020 and is ranked 9th.
10. Falkirk, Scotland - Final Score: 80.9
Falkirk has an average house price of £168,536 and a price-to-earnings ratio of 2.22. The area has seen a 7.14% price increase since 2020 and is ranked 10th.
11. South Ayrshire, Scotland - Final Score: 80.7
South Ayrshire has an average house price of £175,071 and a price-to-earnings ratio of 2.27. The area has seen a 6.73% increase in house prices since 2020 and is ranked 11th.
12. Sunderland, North East England - Final Score: 80.6
Sunderland has an average house price of £135,666 and a price-to-earnings ratio of 2.19. The area has experienced a 6.17% increase in house prices since 2020 and is ranked 12th.
13. Clackmannanshire, Scotland - Final Score: 79.9
Clackmannanshire has an average house price of £167,646 and a price-to-earnings ratio of 2.55. The area has seen a 7.48% price increase since 2020 and is ranked 13th.
14. Fife, Scotland - Final Score: 79.7
Fife has an average house price of £169,568 and a price-to-earnings ratio of 2.62. The area has experienced a 7.66% increase in house prices since 2020 and is ranked 14th.
15. Highland, Scotland - Final Score: 79.3
Highland has an average house price of £207,903 and a price-to-earnings ratio of 3.01. The area has seen a 6.46% price increase since 2020 and is ranked 15th.
16. Burnley, Lancashire, North West England - Final Score: 79.2
Burnley has an average house price of £100,820 and a price-to-earnings ratio of 1.87. The area has experienced a 7.13% increase in house prices since 2020 and is ranked 16th.
17. Shetland Islands, Scotland - Final Score: 79.2
The Shetland Islands have an average house price of £220,740 and a house price-to-earnings ratio of 2.47. The area has seen a 7.31% price increase since 2020 and is ranked 17th.
18. North East Lincolnshire, Yorkshire and The Humber - Final Score: 78.8
North East Lincolnshire has an average house price of £152,694 and a price-to-earnings ratio of 2.26. The area has seen a 6.03% increase in house prices since 2020 and is ranked 18th.
19. Scottish Borders, Scotland - Final Score: 78.6
The Scottish Borders have an average house price of £201,430 and a price-to-earnings ratio of 2.97. The area has seen a 7.49% price increase since 2020 and is ranked 19th.
20. Blackpool, North West England - Final Score: 78.5
Blackpool has an average house price of £132,545 and a price-to-earnings ratio 2.13. The area has seen a 6.9% increase in house prices since 2020 and is ranked 20th.
20 Least Affordable Areas to Buy a Home in the UK
