The Northern part of England the most affordable to buy a home

Northern cities in the UK offer young professionals a much greater chance to become owners of their own homes, despite the fact that the starting conditions in the Northern cities usually worse.Independent study-availability of market housing held real estate Agency. The Agency of the real estate used in their study, the so-called “expertise available”, which is based on the measurement of property prices to annual earnings of people aged 22 to 39 years .

Examining the data on the availability of 25 cities in the UK, it was concluded that the Durham is the most affordable city for purchases of residential property. Followed by Nottingham and then Liverpool. In southern Britain the most affordable cities is Hastings, followed by Canterbury.

Traditionally, London is a draw for well-educated young professionals. Indeed, in London a lot more job offers for all sorts of professions. But, get an education and start, leaving many in cities with more modest jobs and more affordable housing prices.

For young people who want to buy a house in the UK, are much more likely to do it in the North of the United Kingdom, even in the case when their income is much more modest.

In Scotland the annual income is higher than the average for cities in the UK. In Glasgow the average annual income is £27938. The average price for residential property in Glasgow – £124496 pounds. Thanks to a rather modest price of housing, Glasgow is one of the most affordable cities in Scotland, where a young professional will need a 4.5 annual income to buy a house.

If you compare with the Aberdeen and Edinburgh that the appropriate indicators in these cities is much higher: in Aberdeen – 7,4, in Edinburgh, and 7.7.

Edinburgh and Aberdeen an extremely attractive city for investors in residential property . First, oil the status of these cities all the time pushing property prices up, attracting the city’s highly paid professionals. In addition, Aberdeen is famous for its long sandy beaches, And Edinburgh, as a city listed as a UNESCO world heritage site, is a magnet attracting capital from London and foreign investors.

® Helen Entree. 01.09.2014

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