Winchester is the most expensive city in Britain to buy a home, with an average property price tag of £630,432, an astonishing 14 times higher than average local pay packets, new findings have revealed. Costly: Winchester is the most expensive city in Britain to buy a home, with property price tags 14 times higher than local people's pay packetsLondon was outside the top five least affordable cities for the first time in six years. Londonderry in Northern Ireland held its position as the most affordable city for the third consecutive year, with a price-to-earnings ratio of 4.7. An average home there costs 5.6 times average earnings, down from 6.2 in 2011, due to wage growth outstripping house price growth. All of the most affordable cities have house prices below the average for all UK cities (£287,440), expect for Hereford, where property prices are around £316,929.

Source: The Nation August 11, 2021 12:22 UTC