Sunderland is 'most affordable place in the country for singles to get on property ladder', find housing data experts

Sunderland is the most affordable place in the country for single people to get on the property ladder, according to an online property data website.

Thursday, 14th February 2019, 8:24 am
Updated Thursday, 14th February 2019, 8:27 am

Wearside ranked top of the affordability list by Zoopla, which looked at the costs of one-bedroom flats and compared them with local average wages.

The research also found that, outside London, Hertsmere in Hertfordshire is the least affordable location for single people to buy a property.

The research, which coincides with Valentine's Day, made several assumptions, including that someone would have a 15% deposit to put down and that they would be paying off a mortgage over 25 years.

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It found that mortgage repayments in Sunderland could potentially equate to 9.2% of someone's monthly wage, compared with 35.1% in Hertsmere.

Within London, Kensington and Chelsea was found to be the most expensive borough, where the mortgage payments needed could equate to 77.7% of a typical monthly local pre-tax wage.

Bexley was found to be the most affordable London borough, with mortgage payments on homes equating to about 27.76% of monthly wages.

While Zoopla's calculations about buyers' potential mortgage payments are theoretical, in reality, lenders must carry out strong checks to make sure people's mortgages are affordable and that they are not borrowing more than they will comfortably be able to pay back.

Annabel Dixon, a spokeswoman for Zoopla, said: "The most affordable area for single buyers is northern England, while those in southern England are forced to sacrifice a much larger portion of their monthly wage."

Zoopla used Office for National Statistics (ONS) full-time gross earnings figures to make the calculations.

The top 10 cheapest most affordable local authority areas for single buyers. according to Zoopla:

(With the proportion monthly mortgage repayments could take up of a gross monthly wage typically)

1. Sunderland, 9.19%

2. North Tyneside, 10.67%

3. Wakefield, 11.53%

4. Blackpool, 11.54%

5. Wirral, 11.65%

6. Kirklees, 11.91%

7. East Riding of Yorkshire, 12.11%

8. Bradford, 12.72%

=9. Derby, 13.02%

=9. Kingston upon Hull, 13.02%

And here are the 10 most expensive:

1. Hertsmere, 35.07%

2. Brighton and Hove, 34.37%

3. Watford, 33.61%

4. Spelthorne, Surrey, 33.52%

5. Oxford, 32.25%

6. Cambridge, 32.06%

7. Slough, 31.74%

8. Mole Valley,Surrey, 31.23%

9. Epsom and Ewell, Surrey, 30.76%

10. Windsor and Maidenhead, Berkshire, 30.59%