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

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

Estate Agent Talk

Landlord Safety Certificate Cost Breakdown for London Property Owners

London Safety Certificate is your trusted provider in London, offering fully accredited and dependable services to help landlords meet their legal obligations with confidence. As a landlord, you’re responsible for guaranteeing that your property meets UK legal safety standards, which means obtaining various safety certificates. The costs for these certificates can vary; for instance, a…
Read More
Breaking News

Nationwide House Price Index – Thoughts from the Industry

The latest Nationwide House Price Index for July 2025 shows that: House prices increased by 0.6% between June and July of this year. On an annual basis, the average house price increased by 2.4% up from a 2.1% annual rate of growth in June. As a result, the average UK house price now sits at…
Read More
Breaking News

Nationwide House Index – July 2025

Annual house price growth edges higher in July Annual rate of house price growth increased modestly in July to 2.4%, from 2.1% in June House prices were up 0.6% month on month UK house price to earnings ratio at lowest level in over a decade at c.5.75 Headlines Jul-25 Jun-25 Monthly Index* 540.5 537.4 Monthly…
Read More
Breaking News

Late payment reforms offer hope for SMEs

The Government has unveiled its Small Business Plan aimed to support SMEs and unlock growth. This plan outlines their intention to tackle late payments, an issue which costs the UK economy £11bn a year and forces 38 businesses to shut down every day. Richard Beresford, Chief Executive of the National Federation of Builders (NFB), said:…
Read More
Breaking News

Late payment reform is welcome, says FMB

Measures announced as part of the Government’s ‘Small Business Plan’, to tackle late payments and tool theft, futureproof skills, and improve access to finance, are welcome steps to create a more level playing field for small building companies, say the Federation of Master Builders (FMB). Brian Berry, Chief Executive of the FMB commented: “Late payments…
Read More
Social Housing 2019
Breaking News

Build to Rent sees global surge

Build to Rent Goes Global: New Data Reveals Surge in UK, US, Australia and New Zealand New global data from Inventory Base reveals that Build to Rent (BTR) is no longer a UK phenomenon. n, it’s a rapidly expanding housing model gaining serious traction across New Zealand, Australia, and the United States. Nowhere is this…
Read More