Menu
Feefo

581 reviews

Read all reviews
0800 028 2800

Call us from your mobile

Feefo

Our lines are open 24 hours a day 7 days a week

 

Please note calls may be recorded for legitimate purposes.

Call us free on

0800 028 2800

Our lines are open 24 hours a day 7 days a week

 

Please note calls may be recorded for legitimate purposes.

< Back to all news
19.12.2018

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.

More news

16.01.2019

Selling your home can be a daunting task, especially when you’re doing it for the first time, or for the first time in a long time. There is very little room for error and mistakes big or small can easily be made without you being immediately aware of them. In this post, we cover the most common mistakes made when selling a property and how you can avoid making them yourself.

19.12.2018

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. 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.

29.11.2018

If you’re moving abroad, then chances are you are trying to sell your house as quickly as you can so that you can start getting organised for the big move.

 

Live Chat

Live Chat

Is currently offline

Let’s have a real chat instead, please leave your number and we’ll call you back.  We promise we won’t hassle you, if we’re not the right route for you, we won’t call you again.

Thanks, someone will be in touch soon.

Before You Go