Leeds features in a list of the most affordable locations in England for first-time buyers, according to newly released figures.
The new data, which was compiled by online mortgage broker Mojo Mortgages, was released in line with the launch of the government’s new First Homes scheme.
The first homes scheme affordability index looked at various factors including property prices, average annual salary and monthly take home pay to work out where in England was most and least affordable.
Based on the average monthly mortgage payment as a percentage of income, Leeds was the 19th most affordable location in England for first-time buyers.
The average first-time buyer in Leeds now spends 22.61% of their salary on mortgage repayments each month, putting it among the top 20 most affordable locations in the UK.
This is based on an average property price in the city of £238,198 and an average annual salary of £29,884.
Right now on RightMove there are 273 properties available to buy in the city centre for £240,000 or less.
There are plenty of swanky apartments on offer within this price range, and some are even set within buildings that have their very own concierge, gym and home working lounge.
While we have been spending more time at home, it’s important to check you are getting the best deals from your providers.
Save on energy bills – Sign up for LookAfterMyBills. The free services automatically switches you to the cheapest energy company, potentially saving you up to £290. You can also use MoneySupermarket to compare switching services.
Cut TV costs – Check your TV and broadband bills. Sky usually offers deals and discounts when you renew your contact and it can potentially cut your bills. If you are on BT or Virgin you can do the same.
Some have stunning skyline views of the city and others have incredible views of the river.
Out of the 273 properties 60 have outdoor space and 140 also come with parking.
And in most cases, the property is within very easy reach of the city centre.
Bradford was rated as the most affordable location for first time buyers, followed by Blackpool and Stoke-on-Trent.
To find out more about the First Homes Scheme Affordability Checker, click here:
To get the latest email updates from LeedsLive, click here.