Aberdeen in Scotland is the most affordable area for singles when it comes to buying a home in Great Britain, Zoopla analysis shows.

This is based on property prices compared to salaries., as Aberdeen buyers only need an average of £510 per month to meet monthly mortgage payments for a one or two-bedroom home, based on an average value of £119,350. This equates to 16% of the area’s average monthly salary (£3,280).

In England Liverpool is the most affordable city for singles, with average mortgage payments accounting for 18% of monthly salaries

Daniel Copley, consumer expert at Zoopla, said: “For singletons, buying a first home can feel a little bit like dating and just like dating, first impressions matter.

“However, it’s important to dig deep into your potential new home as it’s what’s below the surface that determines long-term compatibility.

“Take your time and do your research before making that ultimate commitment to swipe right on a home.”

Northern England most affordable

Sheffield and Newcastle make the top five on the list of affordable cities for single Brits, with a one or two-bed home valued at £156,990 and £150,360 respectively.

Single buyers in Sheffield will need to allocate £640 or 20% of their monthly salary (£3,140) to mortgage payments, with those in Newcastle seeing this increase to 21% of their monthly salary (£2,990).

A one or two-bed home in Manchester will cost on average £197,400, with mortgage payments of £810 accounting for 29% of monthly salaries (£2,810).

In York, the average value of a one or two-bed home currently sits at £263,000, with mortgage payments of £1,070 accounting for 38 per cent of monthly salaries (£3,080).

Affordability in the South improves for single buyers

Over the last 12 months, house prices have risen by just under 1.5 per cent in southern England excluding London. However, this growth has been lower than earnings growth of 5.6%, helping to increase affordability in some areas.

Bristol in the South West, Oxford, Portsmouth in the South East and Cambridge in the East of England are amongst the most improved cities for affordability.

Tom Bill, head of UK residential research at Knight Frank, said: “The rest of the country is closing the gap with London as demand spreads beyond the capital due to affordability pressures, which are being felt more acutely as mortgage rates rise.

“The gap will narrow rather than close but we expect stronger house price growth in less expensive areas of the UK during the next several years. The push into more affordable areas will be reinforced by the flexibility more commuters have about how and where they live following the pandemic.”

Via @PropertyWire