Analysis by Zoopla has revealed some surprisingly affordable gems where buying a home won’t break the bank. Zoopla’s comprehensive study looked at house prices and local salaries across over 1,000 towns to pinpoint where you can get the most house for your pound.
The town of Shildon in County Durham steals the spotlight as the UK’s most affordable town. From 2019 to 2022, Shildon consistently ranked top for affordability. With an average house price sitting at a modest £69,650 and local couples earning around £65,438 on average, the affordability ratio—a key metric that divides house price by joint salary—stands at an impressive 1.04. This figure dramatically undercuts the national average affordability ratio of 3.8, based on the average UK couple’s salary of £72,632 and an average house price of £276,000.
Scotland, The Land of Affordable Living
Scotland appears frequently on Zoopla’s list, boasting multiple towns where homes are significantly more affordable than much of the UK. Cumnock, a town in Ayrshire, southwest Scotland, is highlighted as the most affordable spot. Homes here cost just 4% more than the average couple’s income, making it nearly four times more affordable than the typical UK town.
A Look at Other Affordable Towns
The study also shines a light on several other towns across the UK where the cost of living remains within reach for the average couple:
- Wishaw, Scotland: Homes have a median value of £98,695, with the local average couple’s income at £75,334. This sets the price at just 31% more than income.
- Peterlee, England: The median home value stands at £85,300, with couples earning about £65,438, resulting in homes costing 30% more than income.
- Port Glasgow, Scotland: Here, homes are priced at £98,710, and the average couple makes £76,700, putting housing costs at 29% more than income.
- Irvine, Scotland: With houses averaging £95,965 and couple’s incomes at £74,949, the homes cost 28% more than income.
- Girvan, Scotland: Median home values are at £102,130, while couples earn £80,426, making houses 27% more affordable than income.
Urban Affordability in London
Despite its reputation for high living costs, London still offers some pockets of affordability. Notably, Croydon, Greenwich, and Tower Hamlets are marked as the most budget-friendly boroughs in the capital, providing hopeful homeowners with more viable options within the city.
Improved Affordability
The study also identified towns with the most improved affordability. Teignmouth and Newton Abbot, both in South East Devon, have shown significant strides in making their housing markets more accessible to average earners.