Sandwell tops the list for first-time buyers

Jessica Nangle

May 17, 2017

Sandwell, Dudley and Stoke-on-Trent are the most affordable areas for first-time buyers in the West Midlands, research Search Mortgage Solutions has claimed.

Using data from Zoopla and the ONS, the average property price and median salary in West Midland towns were compared and Sandwell tops the list, with a house price to salary ratio of 4.96.

Dudley follows closely behind with a ratio of 5.75 and Stoke-on-Trent was found to have a ratio of 6.14.

First-time buyers face struggle to get first home

David Sharples, mortgage broker at Search Mortgage Solutions, said: “Many first-time buyers are struggling to save up for the required deposit to buy their own home.

“Research recently undertaken by ourselves in several regions across the UK has proven that affordability can differ considerably when looking just a short distance apart.

“To date, we have looked specifically at Greater Manchester and West Midlands and both have shown significantly different levels of affordability for first time buyers across different towns and cities within the regions.”

Stratford-upon-Avon made the list with a ratio of 12.14 and the popular tourist town of Warwick also made the top 15.

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