Friday, 24 September 2021

UK’s most affordable areas for ‘singletons’

DATA collated by the Daily Telegraph highlights the top 10 most affordable areas for single earners and one-wage

DATA collated by the Daily Telegraph highlights the top 10 most affordable areas for single earners and one-wage families to buy in.

In first place, Blaenau in Gwent was found to be the best choice, with another Welsh town, Neath, in 10th position.

The data was collected using the average (median) and lowest quarter of house prices in a local authority, using Land Registry data.

The distribution of incomes for working individuals, using Office for National Statistics data, was then applied. (This does not include general household income data as it would include retired and very low-income households who are less likely to be in privately owned housing.)

Finally, the question was asked: “Where on the income scale would a single earner need to be to buy such properties, assuming a relatively high loan to income ratio mortgage of 4.5 (assuming they can raise a 20 per cent deposit), and what percentage of this is in England and Wales?”

Lucian Cook, head of residential research at Savills, said: “It really does drive home how home ownership is confined to households with two incomes to get a mortgage, whether to get on the ladder or trade up the household.

“It shows significant constraints on the ability of single-income households to access the housing ladder across the vast majority of the country.”

Joe Sarling, an economist at Nathaniel Lichfield and Partners, has described the emergence of Generation U, or “generation unlucky and unaffordable”.

“The booms and busts in the housing market have continually ratcheted up for a range of complex issues relating to the mismatch between housing supply and demand,” he said. “As a result, the present — and potentially future — generations are finding it increasingly difficult to buy a home of their own. The time they were born and enter the market has arguably been incredibly unlucky.”


1. Blaenau, Gwent, Wales

2. Burnley, Lancashire

3. Merthyr Tydfil, Mid Glamorgan, Wales

4. Pendle, Lancashire

5. Copeland, Cumbria

6. Rhondda Cynon Taf county borough, Wales

7. Stoke-on-Trent, Staffordshire

8. Hyndburn, Lancashire

9. County Durham

10. Neath, West Glamorgan, Wales

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