The most (and least) affordable places to live in Britain

Lynsey Barber
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The number of people buying their first property has grown (Source: Getty)

If you're a first-time buyer looking to jump on to the first rung of the ladder, it's time to look beyond London to get the most bang for your buck.

The top 10 least affordable areas for wannabe homeowners are located in the capital as the average price of property for first timers jumped 12 per cent in the last six months across the country.

Read more: Everything that's happened in the UK property market since the Brexit vote

The number of first-time buyers increased by 10 per cent in the first half of the year, while the average deposit needed increased by 14 per cent to £33,9960. In London that stood at an eye-watering £95,693.

Brent was found to be the least affordable location for first timers in relation to the earnings of residents, according to the figures from Halifax, where the average property for a first-time buyer came in at £457,014 - 12.5 times the average earnings in the area.

The least affordable places to live

Area House price to earnings ratio (average)
Brent 12.5
Hackney 12
Haringey 11.6
Hammersmith and Fulham 11.1
Waltham Forest 10.9
Lambeth 10.8
Harrow 10.6
Ealing 10.5
Newham 10.2
Islington 10.2

The most affordable places to live

Area House price to earnings ratio (average)
East Dunbartonshire 2.6
Copeland 2.9
East Renfrewshire 3
West Dunbartonshire 3.1
Stirling 3.1
Pendle 3.2
Blaenau Gwent 3.3
North Lanarkshire 3.3
Northumberland 3.3
Mid and East Antrim 3.4

Read more: Nobody wins from a house price crash

“Although numbers remain below their previous peaks and many potential first time buyers are facing escalating house prices and deposit sizes, record low mortgage rates continue to make buying seem a more attractive option than renting," said Halifax mortgages director Chris Gowland.

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