House prices in city have risen by almost 30% in past ten years
Canterbury has been named one of the most expensive cities to live in the country – with house prices rocketing by almost 30% in a decade.
A review by Lloyd’s Bank, which examines how affordable homes are in cities, found the cost of buying a property in the district has jumped by 29% since 2007.
Back then, the average house price in the area was £256,629 – compared to £330,386 today.
It ranks Canterbury joint fifth place with Cardiff in the league of the most unaffordable cities in the UK.
According to the report released last Friday, the average property price in cities across the country is £232,945 – a jump of 12% from the 2007 average price of 207,750.
Lloyd’s Bank mortgage products director Andy Mason said: “City living suits the lifestyles of many people looking for shorter commutes with much of what they need on their doorstep, but buying a city property is the least affordable it’s been for a decade.
“There is also a clear northsouth divide with only one southern location appearing in the top 20 most affordable cities and only one northern location appearing in the top 20 least affordable.
Canterbury house prices have soared in