Nowadays, getting out of the renting cycle can seem like an impossible task. While renting shouldn’t be considered shameful by any means, owning a home provides some extra security, fewer rules and you can have as many pets as you want. Honestly, I would buy a house mainly just to turn it into a zoo. It looks like Secret Glasgow’s pet zoo dreams might be coming true sooner rather than later, as the most affordable areas in the UK for first-time buyers have officially been announced.
A study has just been revealed by L&C Mortgages, who analysed the UK Government’s data regarding average income and house prices around the country.
What are the most affordable areas in the UK for first-time buyers?
The study concluded East and North Ayrshire as the most affordable areas to buy a house in the UK for first-time buyers, located just an hour’s drive from Glasgow. The average monthly salary for the area is £2,268, which is just under the UK average of £2,322. What is more, East and North Ayrshire boasts an amazingly low median first-time buyer house price of £103,453, making it the best place to become a homeowner in the UK.
North Lanarkshire came second on the list, which is even CLOSER to Glasgow – a mere 30-minute drive, to be exact. The average house price here is only £112,166, while the median salary reaches a comfortable £2,355.
Durham County Council took third place, with an average salary of £2,229 and a median first-time buyer home price of £111,454.
And now, back onto all of the areas around Glasgow. South Lanarkshire, Inverclyde, East Renfrewshire, and Renfrewshire all took joint fourth place! South Lanarkshire’s usual salary sits at £2,432 and the house prices at £127,974, while Inverclyde, East Renfrewshire, and Renfrewshire offer an average income of £2,390 with house prices for first-time buyers reaching £151,264.
Unsurprisingly, East Lanarkshire then comes in fifth place, with house prices of £120,379 and an average salary of £2,060. Seriously, there has never been a better time to live near Glasgow, eh!
The most affordable areas in the UK for first-time buyers list
- East and North Ayrshire
- North Lanarkshire
- Durham County Council
- South Lanarkshire, Inverclyde, East Renfrewshire, and Renfrewshire
- East Lanarkshire
- Aberdeen City and Aberdeenshire
- Hartlepool and Stockton-on-Tees
- Sunderland
- Falkirk
- South Ayrshire
What is the most affordable town to buy a house in the UK?
Cumnock is officially the most affordable town to buy a house in the UK, according to a study conducted by Zoopla in January 2024.