Today, the average family in the UK spends four times as much as the average income four times as much as in the 1990s, which means the cost to you drops significantly.
We have compiled the top 10 most affordable in Greater Birmingham where homes can be purchased for less than average, and we show you the average salary you need to afford it. The figure offered by Zoopla assumes a deposit of 25% and a borrowing cost of up to 4.5.
1. Nechells, Birmingham
Nechells is the cheapest area in the Greater Birmingham area to buy a property, according to Zoopla, with properties having an average value of £107,000.
2. East Park, Wolverhampton
Close to Wolverhampton city centre, East Park has properties with an average price of £120,100, according to Zoopla.
3. Birchills and Leamore, Walsall
Heading over the border to Walsall, Birchills and Leamore are two suburbs in the WS2 postcode area where average house prices are £125,600.
4. Newtown, Birmingham
Properties in this inner-city B19 postcode area have an average value of £126,000. Just north of the city centre, with the A34 the main thoroughfare, and close to the Jewellery Quarter, Newtown is just over one mile from New Street Station.
5. Ettingshall, Wolverhampton
This WV2 postcode has homes with an average value of £130,100, says Zoopla. Just over a mile south of Wolverhampton city centre, this area was mentioned in the Domesday Book of 1086.
6. Aston, Birmingham
Neighbour to Newtown at number 4, Aston comes in as the sixth most affordable area in the Greater Birmingham area, with homes having an average value of £133,300.
7. Tipton, Sandwell
The first affordable location in Sandwell is in Tipton, according to Zoopla’s data, where the average house value is £134,000. This Black Country suburb, one of the key areas of the Industrial Revolution, is about 10 miles from Birmingham, 5.5 miles from Wolverhampton and one and a half miles from Dudley.
8. St Matthew’s, Walsall
Back in Walsall, St Matthew’s, at number 8, incorporates the town centre and Zoopla figures show that homes in this WS1 district cost an average of £136,800.
9. Castle Vale, Birmingham
Six miles northeast of Birmingham city centre, Castle Vale is just over a mile from Fort Dunlop and the Fort Shopping Park.
10. Willenhall, Walsall
The tenth most affordable location in the Greater Birmingham area is the market town off Willenhall, in Walsall, once world-famous for its locks industry.
You can read more about the news in: https://www.birminghammail.co.uk/news/property/10-most-affordable-areas-birmingham-22135854