London Is No Longer The Most Unaffordable City In The UK

You may be surprised

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Londoners love to moan about how their city tops the charts when it comes to unaffordable living, but the trophy for being ripped off is due to change hands as it has been beaten to the top spot.

The Lloyd's Bank's annual housing affordability analysis compares the cost of buying a property in an area to the average regional pay. The city of Oxford was the most unaffordable according to their most recent survey with an average house price of £385,37, compared to average earnings of £36,033. This means the average house is 10.7 times more expensive than the average salary. Ouch.

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But miserable Londoners will be pleased to hear that they still took silver with property prices 10.5 times higher than the average salary and the highest house price growth in the last five years with prices up on average 57 per cent.

Looking for somewhere you might actually be able to own one day? Well, Stirling in Scotland s the UK's most affordable city. At £173,847, the average property price is 3.7 times average gross annual earnings.

Right, everyone in, we're going to Stirling.