The most affordable places for solo buyers

Getting on the housing ladder is hard enough at the best of times, but it can be that little bit harder if you’re looking to buy a home on your own, with nobody to split the costs with.

New research from Coulters Property has looked at 30 of the most populated towns and cities across the UK to reveal which are the most affordable for solo buyers. 

The research looks at the average one-bed property price, as well as how much of a person’s average salary in different locations goes towards the mortgage and living costs.

The 10 most affordable cities for solo buyers

Rank Town/City Average One-Bed Property Price Estimated Monthly Mortgage Payments* Estimated Monthly Cost of Living Average Monthly Earnings Mortgage & Living Expenses as % of Earnings
1 Bradford £67,370 £272 £597 £1,983 43.8%
2 Derby £86,578 £349 £640 £2,196 45.1%
3 Belfast £99,480 £401 £569 £2,129 45.5%
4 Glasgow £102,993 £415 £612 £2,142 47.9%
5 Aberdeen £80,830 £326 £674 £2,069 48.3%
6 Stoke-on-Trent £77,585 £313 £646 £1,973 48.6%
7 Leicester £103,762 £418 £641 £2,164 49.0%
8 Leeds £128,253 £517 £601 £2,198 50.9%
9 Liverpool £106,948 £431 £643 £2,080 51.6%
10 Sheffield £105,291 £424 £621 £1,996 52.4%

 

Bradford in West Yorkshire is the most affordable place for those looking to buy a home on their own, as cheap house prices means that those in Bradford only need to put around 44% of their earnings towards their mortgage and living expenses.

Derby is the second most affordable, with mortgage and living expenses taking up 45.1% of earnings and Belfast is the third most affordable, where 45.5% of earnings go on day to day living and paying off the average mortgage.

The 3 least affordable places for solo buyers

Town/City Average One-Bed Property Price Estimated Monthly Mortgage Payments* Estimated Monthly Cost of Living Average Monthly Earnings Mortgage & Living Expenses as % of Earnings
London £454,937 £1,834 £843 £2,711 98.7%
Brighton & Hove £249,902 £1,007 £773 £2,322 76.7%
Reading £226,862 £914 £692 £2,333 68.9%

It’s no surprise to see London is the least affordable city when buying on your own (or even with someone else for that matter), but it is shocking that the monthly mortgage costs and living expenses for a one-bed property equates to almost all of a Londoner’s average wage – 98.7%.

Each of the three least affordable cities were located in the south of England, with Brighton & Hove, on the south coast, taking second place and Reading taking third.

To view all of the towns and cities, please click here.