Everyone knows the reputation earned by London house prices.
Parts of the capital have fast become known for becoming unaffordable for many locals, but it turns out it’s not the worst city as far as the cost of living is concerned.
That honour goes to Oxford, which tops a Lloyds Bank survey based on how property prices compare to average wages.
City AM reports that Oxford house prices come in at 10.68 times the average wage, with Winchester and Greater London just behind.
But parts of the capital, many of them with populations comparable to Oxford’s 160,000, may still be less affordable.
The 10 least affordable UK cities are all in the south of England, while Derry was found to be the most affordable with the average house price just 3.8 times the average salary.
The 10 least affordable cities in the UK
- Oxford
- Winchester
- Greater London
- Cambridge
- Bath
- Brighton and Hove
- Truro
- St Albans
- Chichester
- Exeter
