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Most affordable places to buy a property in Britain 2021

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The most affordable towns and cities in Britain to buy a property have been revealed.

They are clustered around Scotland and the North West, with the quaint town of Shildon in County Durham topping the list by property website Zoopla.

Meanwhile, a separate list of towns which have seen the biggest increase in affordability in the last 12 months includes the picturesque town of Cleator Moor in Cumbria, Malvern, Worcestershire and Bideford, North Devon.

The most affordable places to buy a home in Britain, based on house price to earnings ratios, using two-earner households on average salaries for the local area

The most affordable places to buy a home in Britain, based on house price to earnings ratios, using two-earner households on average salaries for the local area

In the most affordable area: This two-bed terrace in Redworth Road, Shildon, is for sale for u00A355,000 via estate agents Luxe Homes

In the most affordable area: This two-bed terrace in Redworth Road, Shildon, is for sale for £55,000 via estate agents Luxe Homes

Zoopla based its calculations on house price to earnings ratios, using two-earner households on average salaries for the local area.

The average property price in Shildon is £59,468 and the price to earnings ratio is 1.1.

Ferryhill, also in County Durham, ranks in seventh place with a median house price of £72,264 and a price to earnings ratio of 1.35. 

Zoopla said its lower house prices and the dominance of terraced housing was driving affordability in the area.

THE MOST AFFORDABLE TOWNS AND CITIES IN BRITAIN TO BUY A PROPERTY
Rank Postal town Local Authority Region Gross annual household earnings Median house prices Price to earnings ratio Annual home mover mortgage repayment (£)* Mortgage payment as % of annual home movers household income*
1 Shildon Durham (County) North East £53,446 £59,468 1.11 £2,006 5%
2 Cleator Moor Copeland North West £82,924 £96,269 1.16 £3,247 5%
3 Kilbirnie North Ayrshire Scotland £62,338 £76,303 1.22 £2,573 6%
4 Cumnock East Ayrshire Scotland £61,859 £77,414 1.25 £2,611 6%
5 Egremont Copeland North West £82,924 £80,694 1.29 £3,601 6%
6 Stevenston North Ayrshire Scotland £62,338 £106,771 1.29 £2,721 6%
7 Ferryhill Durham (County) North East £53,446 £72,264 1.35 £2,437 6%
8 Ferndale Rhondda Cynon Taf Wales £55,297 £77,421 1.4 £2,611 6%
9 Irvine North Ayrshire Scotland £62,338 £87,478 1.4 £2,950 6%
10 Girvan South Ayrshire Scotland £63,102 £88,587 1.4 £2,988 6%
Source: Zoopla               

In Scotland, towns in historic Ayrshire dominate with Kilbirnie and Cumnock ranking in third and fourth place respectively, and Stevenston, Irvine and Girvan all featuring in the top 10. 

Zoopla said that Scotland’s affordability is linked to two key factors, which are strong earnings locally and more reasonably priced property, with average house prices in all of these towns below £65,000.

Buyers in Cleator Moor and Egremont in Cumbria also benefit from high levels of affordability, according to Zoopla.

This three-bed terrace house in Mill Street, Torrington, is for sale for u00A3180,000 via estate agentsu00A0Bond Oxborough Phillips

This three-bed terrace house in Mill Street, Torrington, is for sale for £180,000 via estate agents Bond Oxborough Phillips

Cleator Moor is located on the 190-mile Coast to Coast Walk that spans Northern England, while Egremont is at the edge of the Lake District National Park. Both areas have a lot to offer home hunters searching for a rural idyll, Zoopla said.

As well as featuring in the most affordable list, the property website said that affordability has also improved the most in Cleator Moor and Egremont.

This is also the case in Whitehaven – where the average house price is £122,685 and the price to earnings ratio is 1.48 – and Millom – where the average house price is £121,565 and the price to earnings ratio is 1.47 – in the North West.

Zoopla said earnings growth is underpinned by its robust manufacturing sector and the Sellafield nuclear power station, a major employer in the area.

This three-bed terrace in William Morris Avenue, Cleator Moor, is for sale for u00A379,950 via estate agents Tiffen & Co

This three-bed terrace in William Morris Avenue, Cleator Moor, is for sale for £79,950 via estate agents Tiffen & Co

This two-bed semi-detached house in Bartons Way, Birmingham, is for sale for u00A3170,000 via estate agents Shipways

This two-bed semi-detached house in Bartons Way, Birmingham, is for sale for £170,000 via estate agents Shipways

For those on the hunt for a property near an Area of Outstanding Beauty, but at a more affordable price, the spa town of Malvern, located at the foot of the spectacular Malvern Hills has also seen an increase in its affordability.

Average house prices in the town stand at £265,710, while the price to earnings ratio is 3.73, down from 4.14.

Commuter towns such as Hoddesdon in Hertfordshire, and the Scottish town of Beith have also seen improvements.

In Britain’s three largest cities, Barking & Dagenham is the most affordable area in London, Oldham is the most affordable in Manchester, and Lozells takes the crown in Birmingham.

Thsi three-bed terrace house in Lamont Crescent, East Ayrshire, Scotland KA18 Offers over u00A370,000

This three-bed terrace house in Lamont Crescent, Cumnock – East Ayrshire – is for sale for £70,000 via estate agents Slater Hogg & Howison

In Southern England, Hoddesdon in Hertfordshire has seen the biggest improvement in affordability with average house prices of £396,623 and a price to earnings ratio of 5.13.

With substantially lower house prices than London and direct trains to London Liverpool Street in just 40 minutes, Hoddesdon could be an attractive location for commuters looking to get more for their money, Zoopla suggested.

Nearby Waltham Cross has also seen improvements in affordability and is slightly more expensive with average house prices of £408,358 and a price to earnings ratio of 5.28, down from 5.70.

Areas in North Devon also feature strongly, with Bideford and Torrington both featuring in the top 10 list for improved affordability.

For those looking for a home near the coast, the historic harbour town of Bideford could be an attractive option with its independent shops and picturesque quay. The town has an average house price of £238,116 and price to earnings ratio of 3.86.

TOWNS WITH THE BIGGEST INCREASE IN AFFORDABILITY
Rank Postal town Local Authority Region Gross annual household earnings Median house prices Price to earnings ratio Change in house price to earnings ratio since 2019 Annual home mover mortgage repayment (£)* Mortgage payment as % of annual home movers household income*
1 Cleator Moor Copeland North West £82,924 £96,269 1.16 -12% £3,247 5%
2 Whitehaven Copeland North West £82,924 £122,685 1.48 -10% £4,138 7%
3 Malvern Malvern Hills West Midlands £71,193 £265,710 3.73 -10% £8,961 17%
4 Egremont Copeland North West £82,924 £106,771 1.29 -9% £3,601 6%
5 Beith North Ayrshire Scotland £62,338 £119,281 1.91 -9% £4,023 9%
6 Millom Copeland North West £82,924 £121,565 1.47 -8% £4,100 7%
7 Hoddesdon Broxbourne East of England £77,314 £396,623 5.13 -8% £13,376 23%
8 Bideford Torridge South West £61,734 £238,116 3.86 -8% £8,030 17%
9 Torrington Torridge South West £61,734 £222,837 3.61 -7% £7,515 16%
10 Waltham Cross Broxbourne East of England £77,314 £408,358 5.28 -7% £13,772 24%
Source: Zoopla                 

Although city locations are often associated with higher house prices, Britain’s largest cities all have areas with greater affordability.

In London, the house price to earnings ratio is most favourable in Barking and Dagenham at 5.4, in Bexley at 5.5 and in Tower Hamlets at 5.68.

In these boroughs, the average cost of a home is below 5.7 times the annual salary for a two-earner household’s average salary, making these boroughs among some of the most affordable in London.

In Greater Manchester, Coldhurst in Oldham is the most affordable, with average house prices of £104,416, and a price to earnings ratio of 2.01, while Lozells is the most affordable area in Birmingham. The average house price in the area is £141,431, while there’s a price to earnings ratio of 2.5.

Izabella Lubowiecka, of Zoopla, said: ‘The North West and Scotland dominate the most affordable areas list once again this year, with relatively modest pricing and stronger earnings in some areas making a home move more accessible for many. T

‘The data also shows that for homemovers on average salaries, mortgages are also more affordable, especially if homeowners have built up some equity in their current property.

‘These levels of affordability in some localities will be welcome news for homeowners looking to move into a larger home especially as the current lockdown restrictions start to ease.’



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Evo Industrial acquires London warehouse (GB)

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Bradda Capital has sold a prime last-mile logistics site in southeast London to Evo Industrial for over €9.3m (£8m). The 3.4-acre site, One Church Manorway, is located in an established industrial area in Erith and has significant development potential. In September 2020, Bradda obtained planning consent to demolish the current 37,662ft² warehouse and to construct a new 60,687ft² facility with a BREEAM sustainability rating of “Very Good”.

 

David Phillips, managing director of Bradda Capital, said: “We are delighted with the level of bidding interest in the site, which reflected the strength of the logistics real estate market. It is an investment that we bought 10 years ago for income with an eye on the growing demand for warehousing in the London area. With leases at expiry, we realised the potential for adding significant value by securing planning consent for a much larger facility of more than three times the volume”.

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Inside six of the most unusual homes for sale on Rightmove

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A £10million mansion with its own vineyard that produces 100,000 bottles of wine a year and a former nuclear bunker costing £50,000 feature in the most unusual homes picked by property website Rightmove.

All six of the most unique homes for sale on the property website made the list for their standout features.

Tim Bannister, of Rightmove, said: ‘It’s such a joy to be able to share these wonderfully unusual properties with the rest of the nation. 

‘From a former nuclear bunker on the south coast to an apartment with a cinema in an underground cave, each one is totally out of the ordinary.’

Here are the six most unusual properties for sale on Rightmove…

1. Former nuclear bunker, Folkestone, £50,000 

Included in the list of most unusual properties on Rightmove is this former Royal Observer Corps nuclear bunker

Included in the list of most unusual properties on Rightmove is this former Royal Observer Corps nuclear bunker

The bunker has a monitoring post with rooms several metres underground, and was built by the Ministry of Defence in 1971

The bunker has a monitoring post with rooms several metres underground, and was built by the Ministry of Defence in 1971

Could you live here? The property in Folkestone has main road access, while the bunker remains in good structural condition

Could you live here? The property in Folkestone has main road access, while the bunker remains in good structural condition

A robust property: Rightmove has described the bunker as 'one of the most impenetrable properties' on its website

A robust property: Rightmove has described the bunker as ‘one of the most impenetrable properties’ on its website

The property is in an area of outstanding natural beauty on the Kent coastline, with views across the sea towards France

The property is in an area of outstanding natural beauty on the Kent coastline, with views across the sea towards France

It’s one of the most impenetrable properties on Rightmove – and this former Royal Observer Corps nuclear bunker in Folkestone is available to buy.

It has a guide price of £50,000, but it is being sold auction via Miles & Barr estate agents, with properties at auction often being sold for more than the initial asking figure.

The bunker includes a monitoring post with rooms several metres underground, and it was built by the Ministry of Defence in 1971.

It is in an area of outstanding natural beauty, opposite the North Downs Way walking path, with views from the site across the sea towards France.

2. Two-bed flat in Nottingham, £325,000 

From outside, there is no indication of the unusual features contained within this two-bedroom flat in Nottingham

From outside, there is no indication of the unusual features contained within this two-bedroom flat in Nottingham

Steps lead down to the lower ground floor flat, which is currently on the market for £325,000 estate agents Liberty Gate

Steps lead down to the unusual lower ground floor flat, which is on the market for £325,000 estate agents Liberty Gate

Unique entertainment space: The flat includes its own underground cave that doubles up as a private home cinema

Unique entertainment space: The flat includes its own underground cave that doubles up as a private home cinema

The flat is part of the St Marys Gate House development, which was originally built as the French Consulate

The flat is part of the St Marys Gate House development, which was originally built as the French Consulate

The cave cinema boasts reclining leather armchairs, a ventilation and heat recovery system and a sizeable wine chiller

The cave cinema boasts reclining leather armchairs, a ventilation and heat recovery system and a sizeable wine chiller

Mixing the old with the new: The flat has a modern kitchen with some clever lighting and exposed brickwork

Mixing the old with the new: The flat has a modern kitchen with some clever lighting and exposed brickwork

This two-bedroom flat includes its own underground cave that doubles up as a private home cinema.

The cave cinema boasts reclining leather armchairs, a ventilation and heat recovery system and a sizeable wine chiller.

The property is being sold via estate agents Liberty Gate, with a guide price of between £325,000 to £335,000.

3. Four-bed house, St Leonards-on-sea, £1.25m 

The perfect pad to party at home? This colourful property in East Sussex has an interesting carnival theme

The perfect pad to party at home? This colourful property in East Sussex has an interesting carnival theme

The St Leonards-on-sea house is being sold via M&W Sales and Lettings, with an impressive asking price of £1.25million

The St Leonards-on-sea house is being sold via M&W Sales and Lettings, with an impressive asking price of £1.25million

The property is called The Bath House: The detached house has four bedrooms, and was once a Victorian Turkish bathhouse

The property is called The Bath House: The detached house has four bedrooms, and was once a Victorian Turkish bathhouse

The house has a bright interior: There are chandeliers hanging from wooden beams and bright red velvet corner sofas

The house has a bright interior: There are chandeliers hanging from wooden beams and bright red velvet corner sofas

Fancy a game? The main living area includes its own bowling alley with a large clown face light display hanging above it

Fancy a game? The main living area includes its own bowling alley with a large clown face light display hanging above it

This colourful property in East Sussex has a carnival theme and includes its own bowling alley in the main living area.

There are chandeliers hanging from wooden beams, bright red velvet corner sofas and ‘dodgem’ artwork on the walls.

The detached house has four bedrooms, and was once a Victorian Turkish bathhouse – hence its name today is The Bath House. It is being sold via M&W Sales and Lettings, and has an asking price of £1.25million.

4. Three-bed house, London, £6.5m 

The London property was designed by Sir David Adjaye, the same architect who designed actor Ewan McGregor's home

The London property was designed by Sir David Adjaye, the same architect who designed actor Ewan McGregor’s home

Not your typical home in the capital: The property in Kings Cross has three bedrooms with unusual features

Not your typical home in the capital: The property in Kings Cross has three bedrooms with unusual features

Making a splash: The main bedroom suite of this London home comes with an enclosed narrow swimming pool

Making a splash: The main bedroom suite of this London home comes with an enclosed narrow swimming pool

Not a single white tile in sight: The swimming pool area has grey tiles with a black painted ceiling and walls

Not a single white tile in sight: The swimming pool area has grey tiles with a black painted ceiling and walls

The Kings Cross property is on the market for £6.5 million and is being sold via estate agents Sotheby's International

The Kings Cross property is on the market for £6.5 million and is being sold via estate agents Sotheby’s International

The main bedroom suite of this house in the heart of London comes with an enclosed swimming pool and private steam room.

The three-bedroom property was designed by Sir David Adjaye, the same architect who designed actor Ewan McGregor’s home.

The Kings Cross property is on the market for £6.5 million and is being sold via estate agents Sotheby’s International.

5. Six-bed mansion with a vineyard, Wales, £10m 

As well as its own vineyard, this sprawling six-bedroom mansion has an outdoor swimming pool and a tennis court

As well as its own vineyard, this sprawling six-bedroom mansion has an outdoor swimming pool and a tennis court

Plenty of open space: Ancre Hill Estates, near Monmouth, in Wales, boasts an enormous 137 acres of land

Plenty of open space: Ancre Hill Estates, near Monmouth, in Wales, boasts an enormous 137 acres of land

The vineyard set-up is being sold as part of the property and it produces  an impressive 100,000 bottles of wine a year

The vineyard set-up is being sold as part of the property and it produces  an impressive 100,000 bottles of wine a year

A chance to enjoy the Welsh countryside: The stunning property is being sold for £10million via Savills estate agents

A chance to enjoy the Welsh countryside: The stunning property is being sold for £10million via Savills estate agents

Ancre Hill Estates, near Monmouth, includes 29.5 acres of vines and supplies wine to some of the world's top restaurants

Ancre Hill Estates, near Monmouth, includes 29.5 acres of vines and supplies wine to some of the world’s top restaurants

The mansion includes a swimming pool surrounding by a patio with plenty of seating areas to entertain at home

The mansion includes a swimming pool surrounding by a patio with plenty of seating areas to entertain at home

Fancy owning your own vineyard? This property in Wales could fit the bill as it produces 100,000 bottles of wine a year.

Ancre Hill Estates, near Monmouth, is tucked away in the Welsh Borders and boasts an enormous 137 acres of land – including 29.5 acres of vines – and supplies some of the world’s top restaurants, including to French chef Raymond Blanc.

Ancre Hill has been recognised in some of the top international wine competitions in the world and won the Bollicine del Mondo in 2012 when its 2008 Sparkling Wine was voted the best White Sparkling Wine in the world. 

At the heart of the estate is a sprawling six-bedroom mansion, which has an outdoor swimming pool and a tennis court. The property is being sold for £10million via Savills estate agents.

6. Houseboat, London, £2m 

This luxurious houseboat once belonged to the French star Edith Piaf who used it on tours around France and Europe

This luxurious houseboat once belonged to the French star Edith Piaf who used it on tours around France and Europe

A quick translation of the boat's name: The houseboat is called Flamant Rose, the French for Pink Flamingo

A quick translation of the boat’s name: The houseboat is called Flamant Rose, the French for Pink Flamingo

A piece of history: The boat has been based at a mooring at St Katherine's Dock marina in London since the late 1990s

A piece of history: The boat has been based at a mooring at St Katherine’s Dock marina in London since the late 1990s

The historic charm of the yacht is felt throughout, with plenty of unique features on show, such as this ship's wheel

The historic charm of the yacht is felt throughout, with plenty of unique features on show, such as this ship’s wheel

This luxurious houseboat, named Flamant Rose – French for Pink Flamingo – once belonged to the French star Edith Piaf, who used it on tours around France and Europe.

The boat has been based at a mooring at St Katherine’s Dock marina in London since the late 1990s, and it is now available to buy for £2million via estate agents Sotheby’s International.

Keen to own your own houseboat? It is on the market for £2million via estate agents Sotheby's International

Keen to own your own houseboat? It is on the market for £2million via estate agents Sotheby’s International

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Search continues for Dublin man missing in US Rocky Mountains

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US park rangers are searching for a 27-year-old Dubliner missing in Grand Teton National Park in the state of Wyoming after his car was found at the start of a hiking trail.

Cian McLaughlin, who studied at Dublin Institute of Technology and works as a snowboard instructor at Jackson Hole in the Rocky Mountains, has not been seen for almost a week.

The Dublin man was reported missing on Sunday morning by Teton County Sheriff’s Office. His car was later found at the start of a hiking trail in the 310,000-acre park.

The National Park Service, the US government agency leading the search for Mr McLaughlin, said he was last seen in the town of Jackson last Tuesday afternoon.

He failed to report for work in Jackson on Thursday and the local sheriff’s office received a missing-person report late on Saturday night.

Grand Teton National Park was contacted early on Sunday when the sheriff’s office received information indicating that Mr McLaughlin may be hiking in the park. A spokeswoman for the National Park Service (NPS) said that park teams with search dogs were out searching the park for the missing man.

She said that Mr McLaughlin is believed to have headed out for a “day hike” without a backpack with him but that “no one knows where he intended to go or where he did go”.

His car was located at Lupine Meadows Trailhead on Sunday morning at an elevation of 6,732ft. The NPS spokeswoman said that there is still snow in the park at about 8,000ft.

Ground-search operations

“Aerial reconnaissance and ground-search operations were conducted in high probability areas in the park on Sunday, June 13th, in search of McLaughlin with no evidence or leads about his whereabouts. Search operations will continue early Monday morning, June 14th,” said the NPS.

In a public appeal, the NPS called on anyone travelling in “backcountry” inside the park since last Tuesday to come forward if they have any information about Mr McLaughlin.

The Dubliner’s Facebook page says he started working at Jackson Hole Mountain Resort last December and that he previously lived in the French ski resort of Chamonix.

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