Stirling is the UK’s most affordable city – where average house prices are just 3.7 times typical earnings in the area, Lloyds Bank’s Affordable Cities Review has revealed.
In the former Scottish capital, Stirling, house prices stand at £173,847 compared to a UK average of £224,926.
Other affordable cities in terms of earnings to house prices are Londonderry (3.8) in Northern Ireland, Bradford (4.4) and Belfast (4.6).
Not that things look good for the UK overall, as the gulf between earnings and house prices has reached an eight year high of 7.2.
The least affordable UK city to live in is Oxford where house prices dwarf earnings by 10.7 times.
Andy Mason, Lloyds Bank’s mortgage products director, said: “City living is becoming increasingly expensive with average house prices at least 10 times average annual earnings in five of the UK’s cities.
“Affordability levels have worsened for four consecutive years as average city house prices continue to rise more steeply than average wage growth.
“House prices in the south have generally seen stronger growth than in the north. St Albans has recorded the biggest gains over the past decade, whilst London has been the top performer during the recovery.”