Nationwide said Kensington and Chelsea is the least affordable local authority in Great Britain, with a first-time buyer HPER of 13.9. Oxford was cited as the least affordable area in the Outer South East region, while Cambridge was identified as the least affordable part of East Anglia, where average first-time buyer prices were put at about £400,000.
Least affordable local authorities
Region
Local authority
HPER
In the Outer Metropolitan region, Spelthorne in Surrey was described as the least affordable local authority, reflecting its status as a commuter area. In the South West, South Hams in Devon was highlighted as particularly stretched, with average prices close to seven times earnings. Other least affordable locations included Derbyshire Dales in the East Midlands, Westmorland & Furness in the North, Stratford-on-Avon in the West Midlands, and York in Yorkshire and the Humber. Cardiff remained the least affordable part of Wales, while in Scotland Midlothian replaced Edinburgh as the least affordable area.
For the most affordable locations, Nationwide said Inverclyde had average first-time buyer house prices at 2.3 times average earnings, and that it was also Scotland’s lowest-priced area at around £100,000.
Most affordable local authorities
Region
Local authority
HPER
Burnley and Hartlepool were again identified as the most affordable areas in the North West and North regions respectively. Stoke-on-Trent remained the most affordable in the West Midlands, Kingston upon Hull in Yorkshire and the Humber, and West Lindsey in the East Midlands. Great Yarmouth was cited as the most affordable in East Anglia, while Gosport in Hampshire was described as the most affordable in the Outer South East.