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Sunderland most affordable city for FTBs

Sunderland is the most affordable city for first-time buyers, with the price of a typical one-bedroom property just 2.4 times the average salary, Mortgage Strategy analysis has found.

London was least affordable with one-bed properties typically priced at more than 12 times the average salary.

Comparison website Moneysupermarket pulled together data on the typical price of one-bedroom properties and the average salary in the UK’s 35 most-populated cities.

Mortgage Strategy analysed the data to determine which cities had the highest and lowest affordability based on the income multiple of one-bed property price compared to local salary.

Figures were based on one-bedroom properties listed for sale on Home.co.uk while average salaries were based on research by the Centre for Cities.

With an average salary of £27,836 and one-bed properties priced at £66,715, Sunderland came top for affordability.

In London there was a huge gulf between the typical one-bed property price of £486,924 and the average salary of just over £39,000.

Armagh, Newry, Derby, Hull, Bradford Stoke-on-Trent, Newcastle and then Aberdeen were the next most affordable after Sunderland.

In each of these cities a first-time buyer can acquire a one-bedroom home for just under three times the average salary.

Bath was the least affordable city after London, as one-bedroom properties are typically priced at £247,000 which is 8.3 times the average salary of £29,800.

Oxford, Brighton, York, Bristol and Edinburgh were the next worst locations for affordability.

In each of these cities a one-bedroom home costs more than six times the average salary.

City Income multiple Salary One-bed home
Sunderland 2.4  £27,835  £66,715
Armagh 2.58  £34,947  £89,995
Newry 2.58  £29,046  £75,000
Derby 2.66  £32,521  £86,418
Hull 2.74  £29,232  £80,034
Bradford 2.79  £25,418  £70,908
Stoke-on-Trent 2.81  £29,201  £82,126
Newcastle upon Tyne 2.89  £32,572  £94,060
Aberdeen 2.98  £31,418  £93,600
Glasgow 3.27  £26,608  £86,981
Wakefield 3.3  £25,782  £85,088
Belfast 3.31 £27,570  £91,340
Wolverhampton 3.48 £30,408 £105,869
Liverpool 3.6  £28,007 £100,929
Chester 3.63  £29,233  £106,050
Coventry 3.65  £30,404  £111,082
Plymouth 3.83  £25,324  £96,922
Leeds 3.94  £28,090  £110,685
Sheffield 4  £25,480  £101,955
Nottingham 4.16  £25,334  £105,414
Peterborough 4.24  £25,090  £106,340
Leicester 4.5  £24,300  £109,420
Swansea 4.57  £24,357  £111,266
Cardiff 4.62  £26,520  £122,577
Southampton 4.75  £28,382  £134,804
Portsmouth 5  £27,279  £136,482
Birmingham 5.52  £28,319  £156,300
Manchester 5.69  £27,331  £155,518
Edinburgh 6.08  £30,706  £186,575
Bristol 6.4  £29,682  £190,072
York 7.12  £23,348  £166,210
Brighton and Hove 7.18  £32,258  £231,564
Oxford 7.26  £31,866  £231,378
Bath 8.3  £29,806  £247,456
London 12.46  £39,071  £486,924

Sources: Moneysupermarket, Home.co.uk, Centre for Cities

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