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Planning on Relocating? Here are England’s Most Affordable Boroughs to Buy a Home

 

Over the last few months, property prices in the UK have finally begun to decline, following two years of continuous growth. This trend appears set to continue as we move into 2023. The UK’s largest lender Lloyds has predicted, in fact, that there will be an 8% fall in property prices this year. 

Last year, many would-be first-time buyers were hesitant to buy property, preferring to rent their homes rather than step onto the property ladder. With rental costs across Britain at a record high, is renting really sustainable? With this in mind, and with property prices beginning to fall, property experts at Buzz Capital set out to find the most affordable places to buy a home in key cities across the UK. 

Methodology 

In this study, we identified the most affordable borough in each of England’s metropolitan areas (Greater Manchester, Merseyside, South Yorkshire, Tyne and Wear, West Midlands and West Yorkshire). To do this, we used Rightmove to identify the cost of an average home in 2022 in each borough in every metropolitan area. We then used Plumplot to find the average salary in each borough and calculated this as a percentage of the cost of a house to determine which was most affordable.  

Greater Manchester 

In recent years, young people have flocked to Manchester, taking advantage of the wealth of career opportunities, booming culture and prestigious educational facilities. Back in a similar study we did in July, Manchester ranked as England’s 15th most affordable city to buy property. 

In this study, we crowned Wigan as Greater Manchester’s most affordable borough. On average, homes in Wigan cost £167 730 to buy. The average employee earns £33 900 a year, which equates to 20.2% of the price of the average property. Stockport, meanwhile, ranked as the least affordable place to buy a home, with the average property priced at 279 236. The average employee in Stockport earns £25 000 annually, which equates to just 9% of property price. 

 

Borough Average Salary (£) Average House Price (£) Salary as a Proportion of House Price (%)
Wigan 33 900 167 730 20.2
City of Manchester 40 200 255 485 15.7
Bolton 31 500 201 844 15.6
Oldham 28 500 190 740 14.9
Bury 32 600 222 657 14.6
Rochdale 27 800 190 703 14.6
Salford 32 200 249 507 12.9
Tameside 24 800 204 356 12.1
Trafford 39 200 345 079 11.4
Stockport 25 000 279 236 9

Merseyside 

Last year, property prices in Liverpool and the surrounding area increased significantly, rising above the national average. In April, the Sunday Times named West Kirby, in Wirral, as one of the six best locations to live in the region. With a plethora of independent cafes and stunning views across the Dee estuary, West Kirby is a popular choice for those relocating to the North West.

Sefton, in north Merseyside, ranked as Merseyside’s most affordable borough. A typical home in Sefton was sold, on average, for £172 488. Sefton employees are paid, on average, £34 700 per year, which equates to 20.1% of the average cost of a home. 

Borough Average House Price (£) Average Salary (£)  Salary as a Proportion of House Price (%) 
Sefton 172 488 34 700 20.1
St Helens 169 332 33 300 19.7
Liverpool 208 370 36 000 17.3
Wirral 218 522 36 300 16.6
Knowsley 242 100 35 700 14.7

 

West Midlands 

Known for its vibrant industrial history, flourishing creative scene, sprawling urban areas and beautiful countryside, the West Midlands is a perfect place to relocate if you’re looking for variety. In our previous study, which ranked English studies by affordability, Birmingham, Wolverhampton and Coventry ranked 14th, 13th and 19th respectively. 

In this study, we identified Dudley as the West Midland’s most affordable borough. On average, homes in Dudley cost £197 791. The average employee in Dudley earns £35 900 each year, which equates to 18% of the cost of a home. Walsall ranked as the West Midland’s least affordable borough, with homes costing, on average, £256 167. The average salary in Walsall is currently £26 800, or just 12.4% of the cost of an average home.

Borough Average House Price (£) Average Salary (£) Salary as a Proportion of House Price (£) 
Dudley 197 791 35 900 18.2
Coventry 239 907 38 600 16.1
Solihull 296 021 47 400 16
Birmingham 256 167 39 600 15.5
Wolverhampton 211 651 32 400 15.3
Sandwell 214 436 31 500 14.7
Walsall 215 886 26 800 12.4

 

We also identified the most affordable boroughs in South Yorkshire, Tyne and Wear and West Yorkshire

South Yorkshire 

Borough Average House Price (£) Average Salary (£) Salary as a Proportion of House Price (%)
Rotherham 170 670 36 700 21.5
Doncaster 175 872 34 500 19.6
Barnsley 171 149 31 200 18.2
Sheffield 222 363 34 900 15.7

Tyne and Wear 

Borough Average House Price (£) Average Salary (£) Salary as a Proportion of House Price (%)
Gateshead 155 375 33 000 21.2
Sunderland 157 344 31 400 20
South Tyneside 157 583 31 100 19.78
Newcastle upon Tyne 204 297 36 100 17.7
North Tyneside 228 988 36400 15.9

West Yorkshire 

Borough Average House Price (£) Average Salary (£) Salary as a Proportion of House Price (%)
Bradford 183 217 35 400 19.3
Kirklees 204 316 37 500 18.4
Wakefield 211 478 36 900 17.4
Calderdale 178 040 30 000 16.9
Leeds 251 818 37 100 14.7