UK’s most and least affordable places to buy a home revealed – including the town where you need to earn just £4-an-hour
You would need to earn more than £80 per hour to get on the property ladder in the most expensive UK location.
THE UK'S most and least affordable places to buy a home have been revealed - including the stunning rural town where you need to be earn just £4-an-hour to buy a place.
Soaring property prices and a freeze on salaries means it is becoming increasingly difficult for people to get a foot on the housing ladder.
This is based on a single person working a 37.5-hour week and mortgage repayments being 35% of their income.
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The study found that the picturesque town of Ferndale in The Valleys in Wales was the cheapest place to live - as you would need to be earning just £4 an hour to get on the property ladder.
The rural old mining town, in Mid Glamorgan, has a population of just over 4,000 and is where Sky One comedy series Stella is filmed.
No fewer than seven postcodes in The Valleys were included in the most affordable UK areas to buy a property.
Local Ferndale councillor and landlord Phil Howe said that many people in Ferndale are on zero-hour contracts which prevents them taking out mortgages.
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