Liverpool ranked UK’s 13th most affordable city - top buyer search areas revealed

The cost of a Liverpool home is now 6.2 times the average salary in the city.

<p>Liverpool is ranked the 13th most affordable city according to statistics from Halifax.</p>

Liverpool is ranked the 13th most affordable city according to statistics from Halifax.

Liverpool has been ranked 13th on a list of the UK’s most affordable cities to live in.

The study by Halifax showed that the cost of the average UK city home is now eight times the average earnings, up from 5.6 in 2011.

Halifax’s analysis of average house prices and earnings in the 12 months to June 2021, has identified the most and least affordable of 61 UK cities.

The research shows that, while city house prices rose to £287,440, up 10.3%, wages in the same locations only rose by 2.1% to £35,677.

Liverpool was joint 13th along with Belfast and Lancaster showing an average annual salary of £34,911 compared to an average house price of £215,741.

This means that in 2021 the cost of a Liverpool home is 6.2 times the average salary in the city compared to 4.6 times in 2011.

Meanwhile, our data request to RightMove has revealed the top ten areas in Liverpool by increase in buyer searches

The data compared July 2021 to July 2020.

Tuebrook in North East Liverpool topped the list of top buyer searches, with a 21% increase in searches, followed by Norris Green with a 17% increase.

Top Liverpool buyer searches

Derry/Londonderry, Northern Ireland, retained its position as the UK’s most affordable city for the third year in a row where the average house price is £155,917.

The most expensive is Winchester, in the south east of England, with the average property costing 14 times the average salary in the city.

Halifax Managing Director, Russell Galley, said: “We can see from our research that affordability is significantly better in the North and there are now just two cities - Plymouth and Portsmouth - with better than average affordability in the South.

“Rising house prices have generally continued to outstrip wage growth, which reduces overall affordability, however the picture is mixed for buyers.”

Meanwhile, RightMove has revealed the top ten areas in Liverpool by increase in buyer searches comparing July 2021 to July 2020.

Tuebrook in North East Liverpool topped the list of top buyer searches, with a 21% increase in searches, followed by Norris Green with a 17% increase.