London Has Most Expensive & Inverclyde Has Cheapest Housing In UK
The cheapest local area to live in the UK is Inverclyde in Scotland, where average house prices are only 2.9 times higher than average annual earnings. The most expensive local area to live in is either Westminster or the City of London where house prices are a staggering 16 times the average annual income in each area. According to Halifax's data, the average house price in London's two most expensive areas is £915,000 - almost seven times more expensive than the average £134,000 house price of Inverclyde. While many people won't necessarily be prepared to move from one end of the country to another in order to find cheaper housing, some may be prepared to move somewhere closer to home. Another coastal location offering the best value for money in its region is the city of Portsmouth, where average house prices are 5.2 times annual earnings. Just 60 miles northeast of Portsmouth is Mole Valley in south Surrey, where house prices are typically 13.2 times more expensive than earnings. The city has good transport links, including buses, ferries, trains and coaches and an array of different era properties, according to one local agent. In London, one of the most expensive local authorities is the City of London, where house prices are 16 times more than average incomes in the area. Eight miles east of the City of London is the cheapest London local authority, Barking and Dagenham, where house prices are 5.4 times average incomes. Estate agents from Barking and Dagenham were keen to point out that both areas should appeal to people wanting to live and work in London. Someone living and working in the West Midlands could potentially choose between the Cotswolds, where house prices are 11.1 times average incomes, and Stoke-on-Trent where prices are only 3.9 times the typical annual income. Meanwhile, those looking to get on the property ladder in Yorkshire and Humberside could consider Hull over Harrogate given they are just 69 miles apart. Hull is the cheapest local authority in the region with average house prices worth 3.3 times the average income in the area Meanwhile, Harrogate is the most expensive place to buy in the region, with house prices 9.6 times higher than the average annual income.
Tags : cheapest local area live UK Inverclyde Scotland average house prices expensive Westminster City of London coastal location housing transport links buses ferries trains coaches