Oxford again named UK’s least affordable place to live

 

As home affordability in the UK is hitting a nine-year low, Oxford’s homes cost more than ten times the average local income.

Ratings of affordability, which aim to compare the costs of buying a home in a specific area with its average pay, found out that the cost of homeownership in five cities is now more than ten times the average regional income. This is due to a rapid increase in house price growth combined with a slowdown in wage growth.

https://www.buyassociation.co.uk/2017/02/24/uk-property-brownfield-land-values-rise/

In its annual analysis, Lloyds once again named Oxford as the least affordable city in the UK. The city’s average house price of £385,372 is now exactly 10.7 times the average annual wage of £36,033.

The UK’s most affordable city is Stirling in Scotland with an average house price of £173,847, equalling 3.7 times the average regional salary.

Lloyds first started its annual analysis in 2004 and has since revealed that the affordability crisis incorporates a major part of England’s south, as this statistic by The Guardian reflects.

Across Britain as a whole, the average house price has increased by 32% over the last five years, from £169,966 in 2012 to £224,926 in 2017. Average annual city earnings, however, have not kept pace as they have only seen an increase of 7% over the same period of time.

https://www.buyassociation.co.uk/2017/02/16/property-investment-england-focus-south-east/

Over the past decade, the fastest growers were the St Albans in Hertfordshire, with price gains of 65% compared to an national average of 21%, Winchester at 59%, Chelmsford at 54%, Brighton & Hove at 46% and Cambridge also at 46%.

Highgrove Mews

High Net Yield Freehold Houses

  • Commutable to London (27 mins to central Paddington station)
  • Rental demand extremely strong with large industry presence in Reading
  • Freehold with 4% net yield

£284,955 - £457,000

St Petersgate – Stockport Manchester

New Launch - Stockport Manchester, apartments from £160,000

  • Discounted launch prices from £160,000
  • Excellent transport links with 3 trains per hour to London Euston and only 9 mins journey to Manchester Piccadilly
  • Experienced development team

Assured Rent Housing Association Leases

Assured Rent Housing Association Leases

  • Assured rent & no rental voids
  • Tenant damage cover & newly refurbished inline with requirements of a corporate sitting tenant
  • Free property and lettings management

From £62,000

Emerging Birmingham Commuter Town With Properties From Just £104,000

The emerging Birmingham commuter town where properties are selling in an average of just 24 days

  • A collection of 62 two bedroom apartments and 28 one bedroom apartments.
  • DE14 is one of the fastest selling postcodes in the West Midlands.
  • 23 minute train journey into Birmingham New Street Station.

Properties from £104,000

Mill, Stockport

The Northwest's emerging property hotspot

  • Discounted off-plan 2-bed prices from £162,000
  • Completion date - Q4 2021
  • Rental yields - 6% plus

Discounted off-plan 2-bed prices from £162,000

South Central – Birmingham City Centre Apartments

Highly anticipated 28 storey launch in Birmingham City Centre with an impressive roof garden and communal facilities.

  • 154 units across 28 storeys
  • Residential multi-media community room, gym, roof garden and sky cinema
  • Excellent future connectivity via the metro system to other key transport hubs and locations around the city

from £205,800

ba-

Talk to us

Speak to our UK property experts today: 

+44 (0) 333 123 0320

Open from 9am-6pm GMT

+852 9865 4446

Open from 9am-6pm HKT

Stamp Duty Calculator

.

Unlock members only investment opportunities and full development details. Join now – it’s free, quick and easy.

Login

Not a member? Sign up for free

Oxford again named UK’s least affordable place to live

Oxford again named UK’s least affordable place to live

Example

By submitting your details via this online form you agree to be contacted via email/phone/SMS by Direct Marketplace Ltd t/a BuyAssociation in relation to property investment and property developments . We do not share your personal details with third parties.  To view our full Privacy Policy click here.