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Home county houses unaffordable
Towns and cities in the home counties are the least affordable places in the UK to live, with up to three out of four houses too expensive for local people, according to new research.
Many locals find themselves priced out of the housing market in the home counties
Towns and cities in the home counties are the least affordable places in the UK to live, with up to three out of four houses too expensive for local people, according to new research.
A study of average salaries compared with property prices showed that Guildford, Cambridge and Oxford were the least affordable.
A typical property in Guildford now sells for seven times the joint earnings of a house-hunting couple, said the report by search engine Adzuna.co.uk.
In contrast, most houses in Hull were within financial reach of first-time buyers on average local incomes, it was found.
Couples could afford nine out of 10 houses for sale in Glasgow, Dudley, Stoke-on-Trent, Birmingham and Wolverhampton.
Northern and Scottish cities continued to be more affordable than Southern ones, reinforcing a North/South divide.
More than 75% of properties were in reach in North West and Scottish cities, compared to less than 50% in the South.
The South East and West of England were the least affordable regions overall due, in part, to an increase in overseas buyers and the growing catchment area for London commuters, the report added.
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