BRADFORD is the UK’s third most affordable city to live in, according to research out today.
Lloyds Bank looked at 61 cities across the UK, comparing average earnings to house prices.
It found home affordability is at its worst levels since 2008, with properties typically costing nearly seven times earnings. While the average house price has surged by nearly a third over the last five years, average annual earnings have only increased by seven per cent.
Oxford in the UK’s least affordable city, with homes there costing nearly 11 times average local earnings.
Stirling in Scotland was identified as the UK’s most affordable city, with the average house price there put at 3.7 times local earnings.
In Bradford, the average house price was worked out at 4.4 times earnings. In York, homes cost 18 times annual earnings and for Hull the figure is 5.4.
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