The least affordable places to buy a home in Britain for first-time buyers are in London, Halifax’s new research has found.
Brent was named the least affordable place in the capital where average property for a first-time buyer costs £457,014, that’s 12.5 times the average earnings of residents in the area.
East Dunbartonshire in Scotland was named the most affordable area in Britain. The area boasts property prices averaging £97,089, 2.6 times local annual average gross earnings
Halifax mortgages director Chris Gowland said: “Although numbers remain below their previous peaks and many potential first time buyers are facing escalating house prices and deposit sizes, record low mortgage rates continue to make buying seem a more attractive option than renting.”
The most affordable places to live in Britain
- East Dunbartonshire
- East Renfrewshire
- West Dunbartonshire
- Blaenau Gwent
- North Lanarkshire
- Mid and East Antrim
The least affordable places to live in Britain
- Hammersmith and Fulham
- Waltham Forest