The UK's Most Affordable Places to Buy a Home in 2019

a money bag and a house on a balancing scale.

The UK's Most Affordable Places to Buy a Home in 2019

At House Buyer Bureau, we understand that it isn’t easy to find the perfect location to move to – particularly with houses becoming less and less affordable for most of us. In the last twelve months, the average house price in the UK has risen to 7.8 times the median salary. In fact, in the year 2016 to 2017 alone, the ratio between average house price and average salary increased by a significant 2.4%. In some areas, house prices have gone far beyond this at over 13 times the median salary.

This means that unfortunately, staying put in your current city may not ensure you get the biggest bang for your buck.

So if you’re planning on downsizing, getting some cash out of your property by moving somewhere more affordable or even simply moving to a more affordable area nearby, we’ve taken care of some research to help you make a decision.

In the table below, we’ve calculated the 20 most affordable cities to buy a home just as we welcome in 2019. To help you make a decision, we’ve also highlighted in yellow the cities that have seen a decrease in average value over the last twelve months, so you can keep an eye on the places that are becoming even more affordable if you’re on a tight budget.

City Avg Price Paid (£) Avg Salary (£) Price to earnings ratio Avg Value Change (Last 12 months)
1 Aberdeen 203,645 32,085 6.35 ^0.81%
2 Bradford 134,948 20,907 6.45 -0.23%
3 Kingston upon Hull 140,342 21,834 6.43 -1.68%
4 Belfast 156,110 24,293 6.43 +0.65%
5 Blackpool 126,479 19,413 6.52 +1.12%
6 Middlesbrough 152,094 22,901 6.64 -2.57%
7 Glasgow 175,563 26,265 6.68 +5.90%
8 Stoke-on-Trent 147,433 21,554 6.84 -1.94%
9 Dundee 157,629 22,889 6.89 +1.93%
10 Liverpool 166,638 24,034 6.93 +0.55%
11 Swansea 166,944 21,429 7.79 -0.74%
12 Manchester 191,975 26,512 7.24 +0.65%
13 Newport 171,955 22,712 7.57 +1.46%
14 Birmingham 198,370 25,772 7.70 +1.36%
15 Leeds 207,850 25,918 8.02 +0.25%
16 Newcastle 200,495 24,982 8.03 +0.34%
17 Nottingham 197,588 24,482 8.07 +1.29%
18 Derby 201,466 24,766 8.13 -1.00%
19 Coventry 209,876 25,802 8.13 -0.60%
20 Preston 190,224 22,734 8.37 -1.79%

Sources: Zoopla & Payscale

In first place, Aberdeen is the most affordable city to buy property in the UK, with an average price of 6.3 times the average salary. However, with a 0.81% increase in prices over the last twelve months, you may wish to be cautious that prices could be set to rise further in the near future and it may be wise to make the move quickly.

Bradford, Kingston upon Hull and Belfast are next, with houses costing 6.4 times the average salaries. However, Bradford housing prices have also taken a dip of 0.23% over the last year and so could continue to decline through to 2019. If you’re planning a move to the Bradford area, now could be the time to do it.

The fifth most affordable city to buy property in the UK is Blackpool and prices are on average 6.5 times the average salary within the city. The average house value has increased considerably by 1.12% over the past 12 months, so this ratio may eventually begin to widen if wages fail to increase too.

Middlesbrough and Glasgow sit at 6.6 times the average salary in the cities. However, the difference comes in the value change over the past 12 months, with Middlesbrough house prices decreasing by a significant 2.57% and Glasgow prices increasing by 5.90%. While the ratios are the same and in fact, the average prices don’t differ too vastly either, the state of the market could indicate where placing your money would fare best between these two.

At the lower end of the table, the bottom five cities surpass the average UK ratio of 7.8 times, however still remain some of the most affordable places to live based on salary ratio. Derby, Coventry and Preston have each seen a considerable decrease in average home value, meaning that prices could be set to decrease further as we head into the new year.

The average salary in the UK as a whole is currently £28,677 and with the exclusion of Aberdeen, none of the cities in the table above meet this. This means that as house prices fluctuate, and wages stay static or decrease, the affordability gap is set to widen.

Unfortunately, whether house prices in your area are increasing or decreasing, it doesn’t fare well for you as a seller. Those who own property in the areas where prices are decreasing are likely to see the value of their home continue to drop and lose out as a result. Even if you’re on the other side of this and the value of your property is increasing, this isn’t always a good thing.  Increasing property prices make it more likely that the affordability gap will widen and, as a result, properties in the area will spend longer periods on the open market.

Don’t wait for your home to become stagnant on the market. Sell your home today and avoid the risk of losing out significantly on its current value. If you think we could help you to sell your home quickly, visit our homepage, enter your postcode and receive your cash offer.

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