County Durham the most affordable place to buy

Aspiring buyers have the best prospects of getting on the ladder in Peterlee in County Durham, where house prices are just 3.9 times average incomes, Street.co.uk research found.

In Peterlee average prices of £106,843 compare to typical incomes of £26,178.

The second and third most affordable regions, in Seaham and Stanley, are also in County Durham.

Bootle in Liverpool is the North West’s most affordable location, with a ratio score of 4.5 and an average property price of £135,422.

This is followed by Blackpool, also with a score of 4.5 and an average property price of £147,776

Heather Staff, co-founder of Street.co.uk, said: “Lower-value housing markets in regions like the North East and North West are faring much better under rising mortgage and living costs, where buyers’ budgets can go further. The North has also experienced far fewer price reductions per listing, which suggests the region is seeing greater demand.”