Harrogate has been ranked as the most expensive place for first time buyers in Yorkshire in a survey published today.
The survey shows homes in Harrogate typically cost £401,747 compared to the national average of £287,830.
With residents typically earning £34,634 a year, a couple who’d saved a 15 per cent deposit would need to borrow 4.93 times their salary for a mid-market home.
This ranks Harrogate as the 21st least affordable place in the UK in a list of 100 locations analysed by online mortgage broker Mojo Mortgages.
The top 20 most expensive towns and cities are all in or around the south of England, apart from Stratford-upon-Avon in 18th. Bath is the most expensive place, followed by Oxford and London.
Read more:
- Harrogate house prices soar in just one year
- House prices in North Yorkshire increase by 22.8% in a decade
The survey ranks York (4.7), Wakefield (3.81) and Leeds (3.56) as the next least affordable locations in Yorkshire after Harrogate.
Hull is the UK’s most affordable location, with 2.03 of a couple’s average income multiple required, followed by Bradford (2.35) and Barnsley (2.59).
The full research is available here.
