Durham is the most affordable place to buy a house in Britain for the second year running while Oxford is the least affordable, it has been revealed.Average house prices in Durham currently stand at £103,668 while Oxford homes are priced at £421,617 on average, research suggests.For someone with an average salary for that city and a mortgage three-and-a-half times that salary, prices in Durham could rise by 16 per cent and still be affordable. But in Oxford, prices would need to fall by 70 per cent to £126,800, for someone with a 20 per cent deposit earning an average wage, to afford to buy.The second most unaffordable city in the UK is the City of Westminster, where a drop of 69 per cent from £984,511 to £300,378 would be required. In Oxford, prices would need to fall by 70 per cent to £126,800, for someone with a 20 per cent deposit earning an average wage, to afford to buy (file photo)Cambridge is the third-most unaffordable city, where average house prices standing at £437,288 would require a price fall of 67 per cent down to £145,359.Meanwhile, Open Property Group claims that Stoke-on-Trent is the second most affordable city to buy a house, where prices average £114,301.Prices in Stoke… Read full this story
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Revealed: Durham is the most affordable place to buy a house in UK for second year running while Oxford tops list of most unaffordable have 317 words, post on www.dailymail.co.uk at May 23, 2020. This is cached page on Vietnam Colors. If you want remove this page, please contact us.