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Aberdeen has been named the UK’s most affordable city for single people looking to buy a home, according to new analysis from Zoopla.
Single first-time buyers now account for around 39% of purchases, reflecting both the challenges solo earners face under current affordability constraints and recent improvements in mortgage conditions. Over the past year, lower mortgage rates and improved borrowing capacity have expanded options for buyers purchasing on a single income.
In Aberdeen, typical monthly mortgage payments for a one- to two-bedroom property average £438, based on an average purchase price of £114,700, placing it at the lowest end of the affordability ranking.
Most affordable cities for one or two-bed properties by region
Region
City
Avg. value of 1&2 bed home
Avg income – single earner
House value to earnings ratio
Monthly mortgage repayments
20% Deposit
Scotland
Aberdeen
£114,700
£33,100
3.5
£438
£22,900
North East
Sunderland
£106,700
£28,600
3.7
£408
£21,300
Yorkshire and The Humber
Hull
£115,300
£27,900
4.1
£440
£23,100
North West
Liverpool
£137,100
£31,600
4.3
£524
£27,400
West Midlands
Stoke-on-Trent
£134,400
£29,700
4.5
£513
£26,900
Wales
Swansea
£149,000
£32,800
4.5
£569
£29,800
East Midlands
Derby
£169,100
£31,200
5.4
£646
£33,800
East of England
Peterborough
£183,200
£30,500
6.0
£700
£36,600
South West
Plymouth
£184,000
£29,600
6.2
£703
£36,800
South East
Milton Keynes
£230,400
£36,900
6.3
£880
£46,100
Source: Zoopla
Cities in the North of England and Scotland make up six of the top ten most affordable spots for single buyers, with Aberdeen, Sunderland and Hull forming the top three cities. To buy a one- to two-bedroom home in Sunderland, single buyers will need to set aside £408 per month, or 17% of their gross monthly income. In Hull, single buyers will have to set aside 19% of their wage per month to afford the average home.
But not everywhere in the North is as affordable. York and Stockport are amongst some of the least affordable areas in the North of England for single buyers. A one- to two-bedroom home in York costs an average of £256,100, an average 34% of monthly income to afford £978 mortgage repayments. In Stockport, the average value of a one or two bedroom home sits at £225,100 with mortgage payments of £860 accounting for 30% of gross monthly incomes.
In the South of England, Milton Keynes comes in as the least expensive city to buy a home with an average house price of £230,400 and mortgage repayments of £880 – compared to an average annual income of £36,900 in the area. In contrast, Brighton tops the list of the least affordable cities to buy in outside of London, with mortgage repayments averaging at £1,238 per month, based on an average house price of £324,100.
Aside from cities, Stevenson, in Scotland, emerges as the cheapest area overall. The average one to two bed home comes in at £70,650, less than double the average annual salary of £35,473. It will cost single buyers just £270 a month, or 9% of their gross monthly income.
Shildon, in County Durham, tells a similar story with an average house price of £64,200 and an average annual income of £30,400. It is also revealed as the area with the lowest average mortgage repayments at just £245 per month.
Most affordable towns for one- or two-bed properties
Region
Postal town
Avg. value of 1&2 bed home
Avg income – single earner
House value to earnings ratio
Monthly mortgage repayments
20% Deposit
Scotland
Stevenson
£70,650
£35,473
2.0
£270
£14,100
North East
Shildon
£64,200
£30,400
2.1
£245
£12,800
North West
Workington
£99,700
£34,600
2.9
£381
£19,900
Wales
Ferndale
£93,900
£30,476
3.1
£359
£18,800
Yorkshire and The Humber
Mexborough
£104,500
£31,800
3.3
£399
£20,900
Source: Zoopla
Whilst London is notorious for some of the highest house prices in the country, with average mortgage repayments in even the most affordable areas over £1,000 for a one- or two-bedroom home, some London boroughs are more affordable than others for single buyers.
Havering in the East of London is the most affordable borough in the city with average house values coming in at £305,200 and a 20% deposit of £61,000, resulting in £1,166 monthly mortgage payments. Croydon comes in second where fantastic transport links are attractive to single Londoners. Here, buyers will need to set aside £1,173 in monthly payments, or 34% of their monthly income.
Cheapest London Boroughs to buy
London boroughs
Avg. value of 1&2 bed home
Avg income – single earner
House value to earnings ratio
Monthly mortgage repayments
20% Deposit
Havering
£305,200
£41,600
7.3
£1,166
£61,000
Croydon
£307,000
£38,900
7.9
£1,173
£61,400
Sutton
£320,200
£39,200
8.2
£1,223
£64,000
Bromley
£374,200
£45,000
8.3
£1,429
£74,800
Redbridge
£318,000
£38,000
8.4
£1,215
£63,600
Bexley
£316,400
£37,700
8.4
£1,208
£63,300
Hillingdon
£343,000
£37,300
9.2
£1,310
£68,600
Barking and Dagenham
£312,900
£33,700
9.3
£1,195
£62,600
Lewisham
£380,200
£40,400
9.4
£1,452
£76,000
Harrow
£347,300
£36,800
9.4
£1,326
£69,500
Source: Zoopla
Richard Donnell, executive director at Zoopla, said: “Buying a home can feel out of reach for many singles who have to rely on just one income to cover mortgage and other costs of home ownership. Rising incomes and lower mortgage rates mean that owning a home by yourself is increasingly possible.
“For many that means buying a smaller sized home where property prices have risen more slowly than for larger, family sized homes in recent years. It’s important to do your research digging into mortgage affordability and products aimed at singles while considering alternative locations and selecting the right area for you. It’s important to know that buying as a singleton is an option.”
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