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|
|Newcastle upon Tyne||2.89||£32,572||£94,060|
|Brighton and Hove||7.18||£32,258||£231,564|
Sources: Moneysupermarket, Home.co.uk, Centre for Cities