HX1 is among the top ten most affordable locations to buy in UK
Halifax has been named among the top ten most affordable locations to buy in the UK right now, according to a new online tool.
Home interior specialists www.hillarys.co.uk have launched a brand new, online tool “Can I afford to buy a house here?” which calculates how much you would need to earn per hour to buy a house in each of the UK’s postcodes.
The calculator is based on a single person working 37.5 hours a week and mortgage repayments being 35 per cent of their income.
Out of 2,602 postcodes in the UK, the tool revealed that HX1 in Halifax is the sixth most affordable.
Those looking to buy in that location having to earn just £6.20 per hour.
On the other hand, N2 in London tops the charts as the least affordable, with buyers needing to earn a staggering £292.29 per hour.
Lucy Askew, spokesperson for www.hillarys.co.uk, said : “Following the 2021 House Index revealing average UK house prices had risen by 10.2 per cent over the past year, coupled with the stamp holiday duty being halved at the end of June, house hunters are faced with many affordability issues.
“The tool also shows house hunters where in the UK they should look to buy and are able to live comfortably, knowing that they will have lots of disposable income at hand - which is so important in the current climate.”
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