Area named one of most affordable in UK

A TOWN has been named the third most affordable place to live in the UK.

Hyndburn was ranked by experts from PlumbNation as the third most affordable place for locals to buy a house in the UK, with a salaryprice ratio of 4.17.

The average house price in Hyndburn was £126,109 in 2022, while the average salary was £30,264. With the cost of living crisis already causing major problems for households, things got much worse during Liz Truss’s stint as Prime Minister last year when the disastrous minibudget sent the mortgage market into chaos.

The situation means it’s an incredibly difficult time for first time buyers and homeowners alike and as anyone who has ever watched a daytime TV property show will tell you - location can make all the difference.

Experts from PlumbNation explored how much the average cost of properties (per region) and utilities has risen over the last decade.

They used this to uncover how much the gap between house prices and annual wages has increased in different parts of the country, to reveal the parts of the UK that are the most affordable for local people.

The research also found that Burnley is the location with the most affordable housing in the UK, with a salary-price ratio of 4.08. This Lancashire mill town has the cheapest average house price in the country at £114,100, while the average annual salary in 2022 was £27,945. The average house price in the United Kingdom is £285,396, while the average salary in the country is £33,402, with a salary-price ratio of 8.54.