Southampton and Winchester in 'most costly' top ten places to live

Winchester Discovery Centre

Southampton Civic Centre

First published in News
Last updated
Daily Echo: Photograph of the Author by , Senior Reporter

HAMPSHIRE cities are some of the most expensive places to live in the whole of the UK amid surging house prices, a report had found.

The research by Lloyds Bank found nationally the price of a home in a large town or city has grown by five per cent over the last year to reach £184,215 on average or 5.8 times someone's average earning.

But when it ranked cities in order of affordability, Winchester was the second most costly city to live in.

Data shows people living there are facing a property price tag which is more than 9.7 times the local wage.

Only Oxford was worse, with a house price-to-earning ratio of 11.

Southampton was found to be the tenth most unaffordable city to live in, with a ratio of 7.15.

Stirling in Scotland and Lon-donderry in Northern Ireland were named as the UK’s most affordable cities to live in, with house prices in those areas typically costing 3.3 times and 3.6 times local earnings respectively.

The UK’s most affordable cities are clustered in Scotland, Northern Ireland and northern England, with Glasgow, Belfast, Lisburn, Bradford, Lancaster and Salford all featuring among the most affordable urban areas to live.

Truro, Bath and Brighton made up the top five list of least affordable places to live, while Westminster in central London came in seventh place.

Related links

Pundits have said mortgage borrowers should start thinking now about how they will cope when the Bank of England base rate eventually starts to climb back up again.

The bank rate has been at a historic low for five years, helping to keep mortgage payments relatively affordable.

Marc Page, Lloyds Bank mortgages director, said: “The economic and lifestyle benefits often associated with residing in cities are continuing to drive demand, especially in the south of England.”

Housing Minister Kris Hopkins said: “We’re determined to ensure anyone who works hard and wants to get on the property ladder has the help they need to do so wherever they live, which is why we’ve introduced schemes like Help to Buy, which enable people to buy with a fraction of the deposit they would normally need.

“Since 2010, we’ve been helping over 110,000 people become homeowners through our schemes, and our efforts to cut the record deficit we inherited has helped keep interest rates at a record low, and home ownership is now at its most affordable since 2007.”

Comments (6)

Please log in to enable comment sorting

2:44pm Tue 11 Mar 14

eurogordi says...

Why? Because both cities are within easy reach of London for commuting and salaries are higher in the capital.

Just because some people choose to commute, should not mean that house prices rise unless those of us who choose to live locally are not granted a London-style weighting when it comes to our own wages.

When I was aged 24 I was able to buy a three bedroom terraced house on the outskirts of Totton. My daughter and son-in-law, who are of a similar age to what I was, are hoping to buy their first home and will be lucky to afford a small one bed-roomed maisonette.

Even now my professional salary would not allow me to buy my first house if I was only starting out on the property ladder. House prices should be capped to favour the young and people should be forced to live within 15 miles of where they live.

That would create a much fairer housing market which currently favours the rich but definitely not those on an average or lower wage!
Why? Because both cities are within easy reach of London for commuting and salaries are higher in the capital. Just because some people choose to commute, should not mean that house prices rise unless those of us who choose to live locally are not granted a London-style weighting when it comes to our own wages. When I was aged 24 I was able to buy a three bedroom terraced house on the outskirts of Totton. My daughter and son-in-law, who are of a similar age to what I was, are hoping to buy their first home and will be lucky to afford a small one bed-roomed maisonette. Even now my professional salary would not allow me to buy my first house if I was only starting out on the property ladder. House prices should be capped to favour the young and people should be forced to live within 15 miles of where they live. That would create a much fairer housing market which currently favours the rich but definitely not those on an average or lower wage! eurogordi
  • Score: 2

3:14pm Tue 11 Mar 14

HorndeanSaint says...

Great idea eurogordi, off to live in Moscow or Cuba by any chance?
Great idea eurogordi, off to live in Moscow or Cuba by any chance? HorndeanSaint
  • Score: 0

3:40pm Tue 11 Mar 14

eurogordi says...

HorndeanSaint wrote:
Great idea eurogordi, off to live in Moscow or Cuba by any chance?
No, but I've heard Moscow is delightful in spring! Seriously, I'm just seeking to bring some equality and fairness to the younger generation who, whether we like it or now, at the ones we will all need to depend on in the future!
[quote][p][bold]HorndeanSaint[/bold] wrote: Great idea eurogordi, off to live in Moscow or Cuba by any chance?[/p][/quote]No, but I've heard Moscow is delightful in spring! Seriously, I'm just seeking to bring some equality and fairness to the younger generation who, whether we like it or now, at the ones we will all need to depend on in the future! eurogordi
  • Score: 1

3:40pm Tue 11 Mar 14

ToastyTea says...

Skatemouth not included
Skatemouth not included ToastyTea
  • Score: 0

6:54pm Tue 11 Mar 14

Sir Ad E Noid says...

eurogordi wrote:
Why? Because both cities are within easy reach of London for commuting and salaries are higher in the capital.

Just because some people choose to commute, should not mean that house prices rise unless those of us who choose to live locally are not granted a London-style weighting when it comes to our own wages.

When I was aged 24 I was able to buy a three bedroom terraced house on the outskirts of Totton. My daughter and son-in-law, who are of a similar age to what I was, are hoping to buy their first home and will be lucky to afford a small one bed-roomed maisonette.

Even now my professional salary would not allow me to buy my first house if I was only starting out on the property ladder. House prices should be capped to favour the young and people should be forced to live within 15 miles of where they live.

That would create a much fairer housing market which currently favours the rich but definitely not those on an average or lower wage!
Erm no. I fully understand what you are saying and I do agree that life is tough at the bottom of the property ladder at the moment. But, my daughter, as well as yours may need a reality check. When they get to houses, they definitely don't fall out of the sky. And I am definitely not going to buy her and sin-in-law the flat/house.
[quote][p][bold]eurogordi[/bold] wrote: Why? Because both cities are within easy reach of London for commuting and salaries are higher in the capital. Just because some people choose to commute, should not mean that house prices rise unless those of us who choose to live locally are not granted a London-style weighting when it comes to our own wages. When I was aged 24 I was able to buy a three bedroom terraced house on the outskirts of Totton. My daughter and son-in-law, who are of a similar age to what I was, are hoping to buy their first home and will be lucky to afford a small one bed-roomed maisonette. Even now my professional salary would not allow me to buy my first house if I was only starting out on the property ladder. House prices should be capped to favour the young and people should be forced to live within 15 miles of where they live. That would create a much fairer housing market which currently favours the rich but definitely not those on an average or lower wage![/p][/quote]Erm no. I fully understand what you are saying and I do agree that life is tough at the bottom of the property ladder at the moment. But, my daughter, as well as yours may need a reality check. When they get to houses, they definitely don't fall out of the sky. And I am definitely not going to buy her and sin-in-law the flat/house. Sir Ad E Noid
  • Score: 1

7:51pm Tue 11 Mar 14

Torchie1 says...

eurogordi wrote:
Why? Because both cities are within easy reach of London for commuting and salaries are higher in the capital.

Just because some people choose to commute, should not mean that house prices rise unless those of us who choose to live locally are not granted a London-style weighting when it comes to our own wages.

When I was aged 24 I was able to buy a three bedroom terraced house on the outskirts of Totton. My daughter and son-in-law, who are of a similar age to what I was, are hoping to buy their first home and will be lucky to afford a small one bed-roomed maisonette.

Even now my professional salary would not allow me to buy my first house if I was only starting out on the property ladder. House prices should be capped to favour the young and people should be forced to live within 15 miles of where they live.

That would create a much fairer housing market which currently favours the rich but definitely not those on an average or lower wage!
A bit tricky for airline crews, shipboard personnel in the Royal or Merchant Navy, military personnel in Afghanistan etc etc etc. You live in a free, fair and democratic country but you can't start restricting someone's rights simply because it doesn't fit in with your plans because the next step,is that they are arguing for a curtailment of one of your freedoms to suit their cause and then you are on a slippery slope.
[quote][p][bold]eurogordi[/bold] wrote: Why? Because both cities are within easy reach of London for commuting and salaries are higher in the capital. Just because some people choose to commute, should not mean that house prices rise unless those of us who choose to live locally are not granted a London-style weighting when it comes to our own wages. When I was aged 24 I was able to buy a three bedroom terraced house on the outskirts of Totton. My daughter and son-in-law, who are of a similar age to what I was, are hoping to buy their first home and will be lucky to afford a small one bed-roomed maisonette. Even now my professional salary would not allow me to buy my first house if I was only starting out on the property ladder. House prices should be capped to favour the young and people should be forced to live within 15 miles of where they live. That would create a much fairer housing market which currently favours the rich but definitely not those on an average or lower wage![/p][/quote]A bit tricky for airline crews, shipboard personnel in the Royal or Merchant Navy, military personnel in Afghanistan etc etc etc. You live in a free, fair and democratic country but you can't start restricting someone's rights simply because it doesn't fit in with your plans because the next step,is that they are arguing for a curtailment of one of your freedoms to suit their cause and then you are on a slippery slope. Torchie1
  • Score: 1

Comments are closed on this article.

Send us your news, pictures and videos

Most read stories

Local Info

Enter your postcode, town or place name

About cookies

We want you to enjoy your visit to our website. That's why we use cookies to enhance your experience. By staying on our website you agree to our use of cookies. Find out more about the cookies we use.

I agree