Oxford is the UK’s least affordable city for prospective home buyers, research from Lloyds Bank has found.
In its yearly Affordable Cities review, it showed the average affordability across all UK cities had worsened, driven by rising house prices across the country.
The study found that the average house price in Oxford was nearly 11 times (10.89) the gross average earnings in the city. It was followed by Winchester (10.11), Cambridge (9.76), Chichester (9.19) and Brighton and Hove (9.10).
However the study gave the caveat that the average figure disguised considerable variations across the capital, with central boroughs being significantly less affordable than the Greater London average.