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Truro homes are third least affordable in UK
9:44am Tuesday 11th March 2014 in News
Truro has been named as the third least affordable city in the UK in which to buy a house, according to a national survey.
In the Affordable Cities Review by Lloyds Bank it falls only behind Oxford and Winchester.
Each city is judged on how many times the average wage a person must spend to be able to afford a buy. In Truro this is 8.57 times the average salary, with an average house price of £224,804.
The review indicates a clear north-south divide, with 17 of the 20 least affordable cities in the south of England.
Conversely, the top 15 most affordable cities were all in Scotland, Northern Ireland or the North of England.
Stirling in Scotland was found to be the most affordable in the UK, following by Londonderry in Northern Ireland and then Newry, also in Northern Ireland.
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