Chichester most expensive place for homeowners

C121159-2  Chichester Photo Louise Adams
C121159-2 Chichester Photo Louise Adams

CHICHESTER is the least affordable place to live in the UK.

This is the result of new analysis of the housing market by job and property search engine

The research showed only 11 per cent of homes in Chichester were within financial reach for first-time buyers on average local incomes.

Adzuna’s research showed that, if willing to travel, a couple earning an average wage in Chichester could afford over 50 per cent of properties in Portsmouth and 40 per cent of properties in Bournemouth, compared to 11 per cent in the city.

Andrew Hunter, co-founder of Adzuna, said: “It’s fascinating to get such a clear view of the differences in home affordability across the UK by studying city by city earnings against property prices.

“With rates of pay falling and property prices rising, it’s clear that homes in Britain are becoming less affordable and that we’re in a renters’ not a buyers’ market.”

Chichester was followed as the most expensive place to live by Oxford in second place and Guildford in third.

The most affordable places to live were Belfast and Hull.