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How To Get Into Oxford University

If you didn't already know, the UK is in the middle of a housing crisis and the average age of first-time buyers is now 30 years old, 32 in London.

But if you thought London was the only haven for unaffordable housing, you'd be wrong. A new analysis from Lloyds Bank has found that Oxford is in fact the least affordable city in the UK.

As reported in The Guardian, home affordability in Britain is at its worse level since 2008 and Oxford, London and Winchester are the most unaffordable places to buy.

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But why?

The analysis compared the cost of buying a home compared to the regional pay in that area and found that the average house price in Oxford is almost 11 times the average annual gross earnings in the city.

Window, Town, Neighbourhood, City, Architecture, Roof, Urban area, Facade, Landmark, Public space,

That's the average salary of £36,033 compared to the average house prices of £385,372.

According to Lloyds Bank, the cost of ownership in five UK cities is now more than 10 times the average local income.

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These are:

  • Oxford
  • Greater London
  • Winchester
  • Cambridge
  • Chichester

    St Albans recorded the biggest price rise of any UK city since 2007, with house prices raising a staggering 65% compared to the UK average of 21%.

    Winchester, Chelmsford, Brighton and Hove and Cambridge have also seen a dramatic increase in house prices.

    Currently the most affordable place to live in the UK is Stirling.

    Is it time for us to pack our bags and move to Scotland?

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    How To Get Into Oxford University

    Source: https://www.goodhousekeeping.com/uk/news/a567340/oxford-more-unaffordable-than-london/

    Posted by: brownfuleat.blogspot.com

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