Stoke-on-Trent is UK's 6th most affordable place to buy home

Home-buyers in a dual-salary household typically face paying nearly four times their income to purchase a property, according to Zoopla. The property website said households where both people are working full-time typically face paying 3.8 times their average annual household income for a home. Someone who is single faces paying 7.6 times their annual income on average to buy a home in Britain.

To find the most affordable areas within Britain’s nations and regions, Zoopla analysed house value-to-earnings ratios, based on a two-earner household on an average salary for the local area. It found that Stoke-on-Trent is the sixth most affordable location to buy a home.

Izabella Lubowiecka, a senior property researcher at Zoopla, said: “London remains the least affordable area for home-buyers. Those in London looking to get more for their money may want to consider buying in one of the South East and East of England’s commuter belt, where there are many towns that are more affordable than London. The same is true in markets around many regional cities and we see buyers seeking value for money.”

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NAEA (National Association of Estate Agents) Propertymark president Toby Leek said: “Affordability for many is a real issue and, as purse strings remain tightened despite easing factors such as slight drops in inflation, prospective and current home-owners will be looking to enter the market with caution, but also, in some cases, further flexibility in where they nest themselves. As many people no longer have the restriction of basing themselves from a static office full-time, they are able to look elsewhere to actually step on to the housing ladder for the first time or find their next, more affordable dream home.”

Here are the most affordable locations in each nation or region, according to Zoopla, based on a two-income household, with the postal town followed by the average house value, the estimated annual household income and the house value-to-earnings ratio:

East Midlands, Gainsborough, £170,000, £70,500, 2.4

East of England, Wisbech, £209,800, £70,900, 3.0

South East, Dover, £250,000, £79,300, 3.2

South West, Plymouth, £222,200, £68,300, 3.3

Wales, Ferndale, £101,600, £67,700, 1.5

West Midlands, Stoke-on-Trent, £139,200, £62,100, 2.2

Yorkshire and the Humber, Hull, £119,800, £62,200, 1.9

London, Croydon, £417,800, £84,800, 4.7

North East, Shildon, £73,200, £65,800, 1.1

North West, Workington, £123,700, £76,900, 1.6

Scotland, Cumnock, £80,300, £75,800, 1.1