First-time buyers are facing an increasingly difficult challenge when attempting to get onto the property ladder. With UK house prices skyrocketing, affordability is becoming a bigger concern for new homeowners who are trying to save for a deposit and secure a mortgage.
It is therefore beneficial to know which areas offer the best value for money when it comes to choosing where to live. House prices differ hugely across the country - and throughout each region - with certain areas becoming hotspots for first-time buyers. READ MORE: The latest multi-million pound homes for sale in Greater Manchester that will make you want to win the lottery Nationwide's affordability report has now revealed the most and least affordable areas for those looking to buy a home in Britain.
Taking into account both the average house price for first-time buyers and average earnings in 2021, the building society has ranked each region from the cheapest to most expensive place to live.
The most affordable area in Britain is East Ayrshire in Scotland, with the lowest average house price of £83,255. A North West borough comes in second on the list - Copeland in Cumbria - despite average prices rising 11% over the last year.Read more on manchestereveningnews.co.uk