Zoopla finds 36 affordable towns, 23 in Scotland

Zoopla’s analysis of 929 British towns found that homes in 36 cost less than twice the combined annual earnings of two local full-time workers, with 23 of those towns in Scotland. One other report gives the total as 35, leaving the precise count disputed in the reporting. Shildon, in County Durham, topped the rankings. Zoopla put its typical home value at £73,600, or 1.15 times the combined earnings of two local full-time workers. Ferryhill and Peterlee, also in County Durham, ranked second and third, with typical values of £91,500 and £96,500 respectively. The analysis covered 929 towns across Great Britain. Zoopla’s overall benchmark was a typical home value of £299,100, equivalent to 4.3 times annual household earnings of about £69,600. The research compares home values with earnings; it does not by itself establish whether buyers can afford mortgage payments or deposits. After the three County Durham towns, Fraserburgh in Aberdeenshire was the highest-ranked Scottish town, at £116,000 and 1.59 times earnings. Irvine followed at 1.62 times, while Peterhead, Ardrossan, Workington, Methil and Saltcoats were also among the top 10. Scotland accounted for 23 of the reported...