THE two cheapest areas in Scotland for families to buy a home have been named in a national study, beating out Wales and southern England for value.
An analysis of housing data across 300 UK towns, compiled by property experts Zoopla and reviewed by digital agency SEO Backlinks, shows that Cumnock in East Ayrshire and the coastal town of Irvine in North Ayrshire have placed fourth and fifth respectively on the national affordability index.
The study compared the average cost of a three-bedroom family home against the estimated annual earnings of two full-time workers.
In Cumnock, where the average three-bedroom property is valued at £113,600, homes cost just 1.68 times a couple’s joint income. In Irvine, the average family home is valued at £120,900, representing a price-to-earnings ratio of 1.70.
Image by Gerd Altmann from Pixabay
The figures place Scotland ahead of Wales, where Ferndale in the Rhondda Valley was named the most affordable Welsh town with a ratio of 1.85.
The overall UK list was topped by Shildon in County Durham, where the average three-bedroom home is valued at £82,500 with a ratio of 1.36.
The findings arrive amid a stable national housing market, with the average UK property valued at £268,000 in March, representing a 1.6% annual price rise in Scotland.
Daniel Weston, from SEO Backlinks, warned that while low purchase ratios are attractive on paper, families must calculate the wider costs of relocating.
Daniel said: “Cumnock and Irvine stand out because the gap between family-sized home values and local earning power is much smaller than in many parts of Britain.
“That can make the first step into ownership feel more realistic for households who need three bedrooms rather than a starter flat.
“But families should not treat a low ratio as the whole answer. A move only works if the mortgage payment, deposit, childcare costs, school run and journey to work all fit the household budget.
“The cheapest property on paper can become expensive very quickly if it adds transport or cuts parents off from support networks.”
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