Most affordable cities for single homebuyers revealed

Aberdeen has been named the most affordable city for single homebuyers with average monthly mortgage payments of £510 for a one or two-bedroom property, according to research by Zoopla.

This is based on an average house price of £119,350 in the Scottish city, and means the buyer’s mortgage payment equates to 16% of the area’s average monthly salary (£3,280).

Buying a home by yourself can be difficult financially, as mortgage lenders only take your income into account (rather than a joint income with a partner or friend), and you’re responsible for paying all the legal fees and stamp duty.

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House prices are also at a record high. According to Halifax, UK house prices rose 0.7% last month, with the average price of a property just shy of £300,000, at £299,138.

Daniel Copley, consumer expert at Zoopla, says that “for singletons, buying a first home can feel a little bit like dating and just like dating, first impressions matter”.

He adds: “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 buy a home.”

After Aberdeen, the second most affordable UK city for single homebuyers is Liverpool. This is followed by Glasgow, Sheffield and Newcastle.

Tom Bill, head of UK residential research at the estate agent Knight Frank, comments: “The rest of the country is closing the gap with London as demand spreads beyond the capital due to affordability pressures.

“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.”

Most affordable cities for one or two-bedroom properties

Here are the cheapest cities to buy a one or two-bedroom home, based on average pay and average house prices in those areas, according to Zoopla. They are ranked by their value to earnings ratio.

Swipe to scroll horizontally

City	Median value of one and two bed home	Median gross monthly pay	Monthly mortgage repayment	Annual value to earnings ratio
Aberdeen	£119,350	£3,280	£510	3.0
Liverpool	£130,800	£2,980	£540	3.7
Glasgow	£152,270	£3,100	£650	4.1
Sheffield	£156,990	£3,140	£640	4.2
Newcastle	£150,360	£2,990	£640	4.2
Leeds	£178,020	£3,130	£730	4.8
Cardiff	£198,920	£3,150	£830	5.3
Nottingham	£162,830	£2,580	£660	5.3
Birmingham	£188,240	£2,900	£770	5.4
Southampton	£194,260	£2,970	£750	5.5

Source: Zoopla

Other areas to consider

While the south of England, London, and Edinburgh are quite expensive for single buyers, affordability has improved in some cities over the past 12 months.

This is due to earnings growth being higher than house price growth.

Zoopla highlights Bristol, Oxford, Edinburgh, Portsmouth and Cambridge as cities with the most improved affordability for single buyers.

London is notorious for some of the highest house prices in the country, with average mortgage payments in even the most affordable areas exceeding £1,000 for a one or two-bed home, but some boroughs in the capital are more affordable for single buyers.

Havering is the cheapest borough to buy in, with an annual value to earnings ratio of 6.6, followed by Croydon at 6.9.

“Havering in the east of London is the most affordable borough with average house values coming in at £306,480. Here, single buyers will need to set aside £1,090 for mortgage payments, 28% of average salaries (£3,850),” says Zoopla.

“This is followed by Croydon where the fantastic transport links into central London will be attractive to single Londoners, who will need to set aside £1,120 in monthly mortgage payments, 30% of average monthly salaries.”