Sunderland is one of UK's cheapest cities to get on the property ladder

Sunderland is one of the cheapest places in the UK to get on the property ladder, according to new figures.

And the city is also in the list of the ten cheapest places to rent in the country.

Rightmove found that the average asking price for a first-time buyer-type property with two bedrooms or fewer in the city is £111,263 - the equivalent of £413 a month, assuming a 35-year mortgage and 25% deposit.

Aberdeen is the country’s cheapest place to buy a first home, with an average price of £102,601, followed by Bradford, where the average asking price is £107,929.

Sunderland was third.

Unsurprisingly, would-be homeowners face the biggest challenge in London, with even a starter home setting you back a cool £501,934 - or £1,862 a month.

St Albans is the country’s second priciest location, while Cambridge is third.

Sunderland was also the third cheapest place to rent a small family home, with an average price of £648 a month.

Carlisle was the country’s cheapest rental sport, with Hull second.

London topped the rental league table too, with even a small home coasting an average of £2,264 a month.

Oxford and Cambridge were second and third respectively.

Rightmove property expert Tim Bannister said: “These latest figures highlight why so many people remain determined to get onto the ladder, as the soaring costs of renting has meant buying has remained attractive even with higher mortgage rates.

“Longer mortgage terms are becoming more common as a way to improve overall affordability and reduce monthly payments, though first-time buyers should be aware of what they are paying in interest compared with their actual mortgage.”

Here are the 10 cheapest cities to get on the property ladder according to Rightmove, with the average asking price for a typical first-time buyer home and the typical monthly mortgage payment, assuming a 35-year mortgage term and 25 per cent deposit in England, 20 per cent in Scotland and Wales:

1. Aberdeen, £102,601, £406

2. Bradford, £107,929, £400

3. Sunderland, £111,263, £413

4. Carlisle, £111,268, £413

5. Preston, £112,273, £416

6. Hull, £113,920, £423

7. Dundee, £116,191, £460

8. Stoke-On-Trent, £117,113, £434

9. Durham, £125,957, £467

10. Doncaster, £128,062, £475

Here are the 10 most expensive cities to get on the property ladder according to Rightmove, with the average asking price and the typical monthly mortgage payment, assuming a 35-year mortgage term and 25% deposit in England, 20 per cent in Scotland and Wales:

1. London, £501,934, £1,862

2. St Albans, £391,964, £1,454

3. Cambridge, £361,429, £1,341

4. Winchester, £344,638, £1,278

5. Oxford, £338,085, £1,254

6. Brighton, £335,402, £1,244

7. Bristol, £280,112, £1,039

8. Chelmsford, £262,522, £974

9. York, £244,834, £908

10. Edinburgh, £239,028, £946

Here are the cheapest cities to rent, according to Rightmove, with the average advertised rent per month:

1. Carlisle, £607

2. Hull, £638

3. Sunderland, £648

4. Stoke-On-Trent, £701

5. Doncaster, £707

6. Bradford, £714

7. Wrexham, £754

8. Lancaster, £764

9. Aberdeen, £775

10. Preston, £787

Here are the most expensive cities to rent, according to Rightmove, with the average advertised rent per month:

1. London, £2,264

2. Oxford, £1,561

3. Cambridge, £1,533

4. St Albans, £1,509

5. Brighton, £1,468

6. Bristol, £1,336

7. Winchester, £1,332

8. Edinburgh, £1,310

9. Chelmsford, £1,300

10. Milton Keynes, £1,239