Home affordability across UK cities is now at a ten-year low according to Lloyds Bank

February 2, 2018

News release today – Lloyds Bank’s Affordable Cities Review headlines ‘Affordability of city homes hits ten-year low’

Home affordability across UK cities is at its worst level since 2007, according to Lloyds Bank’s Affordable Cities Review, with house prices rising as a multiple of average annual earnings from 5.6 in 2012 to 7.0 in 2017. 

The review reveals that the five least affordable cities for homebuyers are Oxford, Cambridge, Greater London, Brighton and Hove and Bath, and that Cambridge has recorded the largest house price increase of 47% in the last 10 years.

Andy Mason, Lloyds Bank mortgage products director, commented: “City living suits the lifestyles of many people looking for shorter commutes with much of what they need on their doorstep, but buying a city property is the least affordable it’s been for a decade.

“There is also a clear North-South divide with only one Southern location appearing in the top 20 most affordable cities and only one Northern location appearing in the top 20 least affordable.”

Read the Lloyds Bank’s Affordable Cities Review released 2nd February 2018 in full click here.

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Rightmove logo
Breaking News

Rightmove asks government to carefully consider property tax changes

The UK’s largest property platform Rightmove is asking the government to carefully consider the impact of any changes to property taxation to avoid unintended consequences which would risk stalling parts of the market. Key data National property tax Just under a third (30%) of homes for sale in England are priced at over £500,000, and…
Read More →
Estate Agent Talk

Get Fast and Reliable Basement Flood Cleaning Services

Having water in your basement is awful. It could be because of a storm, busted pipe, or bad sump pump. Whatever the reason, water damage in your basement has disastrous effects if not dealt with. Basement Flood Cleaning Services are what you need. They will dry it out, disinfect the floor, and have your basement…
Read More →
Breaking News

Breaking Property News 21/08/25

Daily bite-sized proptech and property news in partnership with Proptech-X.   Providing comprehensive, predictive operational intelligence across all aspects of building operations  JLL (NYSE: JLL) this week introduced artificial intelligence (AI) capabilities that are now available as an add-on to Prism, its award-winning building operations platform. As part of JLL’s property management technology ecosystem powered by…
Read More →
Breaking News

UK House Price Index summary: June 2025

The average monthly rate of house price growth in June was 1.4%. The average annual rate of house price growth in June was 3.7%, up from 2.7% in May. As a result, the average UK house price remains at £269,000.   CEO of Yopa, Verona Frankish, commented: “June’s figures reflect a market that is steadily…
Read More →
Breaking News

Private rent and house prices, UK: August 2025

Average UK monthly private rents increased by 5.9%, to £1,343, in the 12 months to July 2025 (provisional estimate); this annual growth rate is down from 6.7% in the 12 months to June 2025. Average rents increased to £1,398 (6.0%) in England, £807 (7.9%) in Wales, and £999 (3.6%) in Scotland, in the 12 months…
Read More →
Breaking News

Industry response to latest inflation figures

Nathan Emerson, CEO of Propertymark, comments: “Unfortunately, any increase seen within the rate of inflation does brings very justified concerns to consumers, many of whom are still struggling with the cost of living, which has been steadily rising over the past few years. “Although there is more work to be done to help ensure inflation…
Read More →