Getting to Grips with the Market
Raising the money for a deposit might seem daunting. House prices are continuing the upward trend of recent decades, however the rate at which they’re doing so has slowed to a near stop – currently just 0.9% across the UK. Meanwhile, average incomes for FTB households have increased by 1.2%. This puts FTBs in a stronger position than they’ve been in some time.
Knowing where you could get a mortgage with your budget is crucial to finding the home of your dreams. But without a tool to help you out at a glance, finding this information out can be either a lengthy research process or educated guesswork – or a combination of the two.
Our Mortgage Deposit Calculator is just such a tool. We’ve looked at house price data from all over the UK to help you scour the UK not only for your perfect house but your ideal location too. And once you’ve made a shortlist of areas with houses within your price range, you can start to find out more about the area.
And if you’re getting on the ladder to eventually sell, you can use our calculator to see which areas have enjoyed the fastest growth in house prices. But remember, there’s no guarantee that trends in any particular area will continue.
The UK’s most affordable areas
Our research has shown which areas of the UK have the greatest amount of affordable housing for FTBs. The top 5 are all in the north of England: Blackpool (Lancashire), Lincoln (Lincolnshire), Kingston-upon-Hull (West Yorkshire), Knowsley (Merseyside) and Stoke-on-Trent (Staffordshire). Blackpool, Lincoln and Kingston upon Hull all have 100% of their properties for sale within the affordable range, while Knowsley has 95% and Stoke-on-Trent has 94%.
The UK’s least affordable areas
Unsurprisingly, towns and cities in London’s commuter belt are among the least affordable. This catchment covers a large area, so using our calculator can give you a good idea of which areas are the most affordable within that range
