Where buying a house is most affordable for residents
New official statistics on the affordability of housing has revealed the areas where homes are the most and least affordable. In this chart, we look at the places where getting onto the property ladder will hurt your bank account the least. When compared to the average annual earnings of residents in the area, property in Copeland is the most affordable, where buying a home will cost just 2.5 times more than your salary.
This local authority, located in Cumbria, encompasses England's beautiful Lake District National Park, showing that affordability doesn't have to mean low quality. To highlight the scale, the least affordable area in England and Wales is Kensington and Chelsea, where putting a roof over your head will cost 45 times more than your annual earnings.
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