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Salford the 'most affordable' UK city, says survey
Published: 1st Apr 2012 17:31:29
Salford is the most affordable city in the UK for house buyers, a survey suggests.
The average property price in Salford is £102,391, less than four times gross average earnings in the area, said the Lloyds TSB Affordable Cities review.
The typical price for a UK city home is £173,202, which is five and a half times the gross annual average earnings, according to the survey.
The least affordable city is Truro in Cornwall.
Their the average property price is £250,489, almost 10 times gross average earnings in the area.
The study used Lloyds Banking Group figures as well as official statistics.
Source:
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Harvard Citation
BBC News, 2012. Salford the 'most affordable' UK city, says survey. [Online] (Updated 01 Apr 2012)Available at: http://www.manchesterwired.co.uk/news.php/1420030-Salford-the-most-affordable-UK-city-says-survey [Accessed 13th May 2013]
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