Latest News

The beginning of a new era

17 June 2019

On 14 June, after several weeks of voting for board and presidential roles, Propertymark’s Annual General Meeting (AGM) revealed who will be taking us forward into the coming year. Read More...

UK agents come together to set direction of travel for Propertymark

14 June 2019

The Propertymark Annual General Meeting (AGM) took place on 14 June at the St Martins Lane Hotel, London, attended by a small group of members, some of whom had travelled from across the country. The Annual Report and Accounts had been shared with members earlier in the month and voting for board and presidential roles had been going on for several weeks. Read More...

The summer of change for letting and estate agents

14 June 2019

Lloyd Clarke, Partner at Attwells Solicitors writes for Propertymark and discusses the expansion of National Trading Standards and how this impacts the estate and letting agency sector. Read More...

Report finds that landlords abuse holiday let contracts to evade tenants’ rights

13 June 2019

According to a new report, landlords and agents in Scotland are exploiting Airbnb-style holiday let contracts to avoid long-term tenancies and evade their responsibilities to tenants. Read More...

Propertymark acts to protect the legitimate business interests of its members

11 June 2019

With a possible breach of the Tenant Fees Act 2019 and Consumer Rights Act 2015 by an aggregator portal, placebuzz.com, Propertymark investigated to protect its members from liability, and importantly, protect consumer rights. Read More...

Lessons from Grenfell – improving safety and looking after residents

10 June 2019

The Government seeks to bring forward new legislation to keep residents’ safe and is inviting views on a new building safety regime, as well as launching a new home ownership scheme specific for residents of Grenfell. Read More...

Most affordable homes in England and Wales

Wednesday 22 May 2019

The latest data from the Office of National Statistics has revealed where the most affordable places to buy a home are in England and Wales based on the ratio of the average salary and the average property price.

The data shows that across England and Wales the affordability ratio has shown little change year on year with the average property costing 7.8 times the available wage in 2008. However, while housing affordability remains a big issue, the diversity of the UK property market means that there are a whole host of areas where the gap is much smaller.

Copeland is currently the best place in England and Wales to get a foot on the ladder and, with an affordability ratio of 2.5, it is just over three times cheaper than the national average and over 17 times more affordable than the worst area Kensington and Chelsea.

Barrow-in-Furness, Blaenau Gwent, Neath Port Talbot, Pendle, Merthyr Tydfil and Burnley area are also home to an affordability ratio where house prices are less than four times the average wage. Knowsley, Derby and Hyndburn complete the top ten more affordable areas in the UK where getting a foot on the ladder is concerned.

Shepherd Ncube, Founder and CEO of Springbok Properties commented: “Housing affordability is a very hot topic and the consistent escalation of house prices coupled with the slower rate of wage growth, means that, for many, the aspirations of owning their own home continues to move further out of reach. However, our property market is a diverse one and amongst the many layers that form it there are 140 pockets of affordability offering a below-average house price/wage ratio.

“Of course, wider economic factors such as job availability have a part to play but this aside, these areas offer hope to those wishing to shed the shackles of the rental sector. By doing your homework, you can uncover hidden gems of property affordability dotted all over England and Wales.”

Most affordable areas to buy in England and Wales:

Area 

House price/ affordability ratio

Copeland

2.5

Barrow-in-Furness

3.53

Blaenau Gwent

3.59

Neath Port Talbot

3.6

Pendle

3.65

Merthyr Tydfil

3.78

Burnley

3.99

Knowsley

4.11

Derby

4.26

Hyndburn

4.35

England and Wales

7.8