Chichester less affordable place to live than last year

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CHICHESTER is now the sixth most expensive city in the UK, according to a survey out this week.

The annual Lloyds Bank affordable cities review puts the city in sixth place, behind Oxford, Winchester, Truro, Bath and Brighton and Hove.

This is an increase on this time last year, when it was ranked eighth in the same chart.

However both Salisbury and Cambridge have dropped down to eighth and ninth respectively in this year’s chart.

The most affordable city in the UK was calculated as Londonderry, with Bradford the most affordable city in England.

The bank’s survey once again showed a clear north and south divide, but did conclude four out of five UK cities had seen home affordability improve since 2009.

The average price for a city home in the UK stands at £184,215, equivalent to 5.8 times the gross annual earnings.

However, the past year has seen a deterioration in affordability in cities, driven by rising house prices.

Chichester was even judged as less affordable than the city of Westminster, which finished in seventh place.

Portsmouth was ranked as the 17th least affordable city in the UK, with Southampton in tenth.