For many of us, 2016 did not make a welcoming atmosphere for property investment. From the political instability and currency crash of the Brexit vote to a generally stumbling economy and the huge leap in house prices over the last couple of years, you’d be forgiven for a certain amount of uncertainty.
Still, many of us still dream of taking that first or next step onto the housing ladder, leading us to ask the question – where, exactly, are the most affordable places to buy in the UK?
In this guide, we’ll be looking at the most affordable places to buy a property in the UK. Affordable, in this case, doesn’t mean the cheapest. Instead, it compares the average house price with the average annual wage to find the most affordable places to live.
There are some surprising answers in the list, compiled by Zoopla, so join us as we run down five of the most affordable places to live in the UK.
- Copeland, Cumbia.
There’s a tremendous amount of local pride that comes from Copeland’s population of around 70,000, and there’s a good reason for that – Copeland is home to a huge amount of architectural and geological history, countless acres of protected natural beauty and some great jobs.
With an average house price of £114,011 and an average wage of £37,492, it’s the cheapest place in the UK to hop on the property ladder, providing you’re working in the area
- Blaenau Gwent, South Wales.
An area of astonishing natural beauty, the Rhondda Valley is located to the north of Cardiff and is a just a short drive to Bristol. Made up of a number of small towns, each with excellent amenities and distinct charms, there are some tremendous bargains to be had.
Average house prices sit at £79,715 and the average wage is £19,968. However, house prices have risen an incredible 10% over the last 12 months, so you might have to move quickly if you’re keen to land a property on the cheap.
- Burnley, Lancashire
Located to the west of Leeds and to the north of Manchester, it can be easy for Burnley to disappear in a discussion of property in the North. However, it’s got plenty to offer. This charming market town is home to some lovely Victorian architecture thanks to its prominent role in the Industrial Revolution.
Named ‘Most Enterprising City’ in 2013, Burnley is very much on the up and with an average property price is just £75,445, it’s extremely affordable to climb on the property ladder there. Average annual wages sit at £18,824, but with strong transport links to Manchester, you’re in no way limited to the local economy.
- North Lanarkshire
Taking a trip north of the border, we find North Lanarkshire, one of the 32 council areas of Scotland, bordering the northeast of Glasgow. Big towns like Cumbernauld, Coatbridge and Airdrie occupy the area and with tremendous links to Glasgow, there’s plenty of job opportunities.
Buying in the area costs an average of £97,875, 2% over the previous year, with annual wages at an average of £21,684.
- County Durham
Situated between Sunderland and Middlesbrough, County Durham is much more than a footballing rivalry middle ground. It’s home to Durham, the stunning cathedral city which lends its name to the county and a host of smaller, equally lovely towns and villages.
It’s not just scenery though, because County Durham is extremely affordable, with average house prices of £96,883 and annual wages in the region of £21,000.