Bradford is the most affordable UK place for solo buyers
December 21, 2020 - Bradford
New research from estate agents Coulters Property has looked at 30 of the most populated towns and cities across the UK to reveal which are the most affordable for solo buyers.
Bradford is the cheapest city for solo buyers, where average one bed properties can be purchased for just £67,370 on average. In Bradford paying the mortgage and living expenses account for 43.8% of earnings.
This is based on estimated monthly mortgage payments of £272, a cost of living of £597 per month, with average monthly earnings of £1,983.
The second most affordable city is Derby, followed by Belfast, Glasgow and Aberdeen.
London is the most expensive city for solo buyers, with an average property price of £454,937 compared to earnings of £2,711.
The monthly mortgage costs and living expenses for a one-bed property equates to almost all of a Londoner’s average wage – 98.7%.
Other expensive places for solo buyers are Brighton and Reading, where a mortgage and living expenses account for 76.7% and 68.9% of earnings, respectively.
This article has been republished from Propertywire.com
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