FIGURES have shown that the South Lakeland has been ranked the least affordable place to buy a home – while Copeland ranks among the most affordable.
Rated beside other areas in the North West, South Lakeland and Copeland have appeared at opposite ends of the Nationwide Building Society's latest property survey.
South Lakes is ranked eighth in terms of least affordable, measured by the first-time buyer house-price-to-earnings ratio (HPER).
RATED: South Lakeland least affordable / Copeland most affordable area in North West
Copeland has been ranked 2nd as most affordable areas, identifying the local authority areas with the lowest first time buyer house price.
RANKED: Nationwide's local affordability report: South Lakeland least affordable / Copeland most affordable area in North West
Andrew Harvey, the Nationwide's senior economist, said: “Our recent Affordability Report identified there had been a significant widening in the gap between the least affordable and most affordable regions.
"However, there is also considerable variation within regions and in this special report we explore this further.
“We’ve developed a range of affordability metrics at local level using house price data and earnings data from the Land Registry & Office for National Statistics (ONS) to give the most comprehensive view at a local level."
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