Attractive affordability and attractive dating prospects….Zoopla reveals the best places for singletons to buy a home
14th February 2020
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Liverpool named best city for single homebuyers while Aberdeen, Cardiff and Nottingham also score highly
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In London, Richmond upon Thames, Islington and Bromley are the best places for those buying alone
Zoopla, the UK’s most comprehensive property destination, can reveal Liverpool is the best location for single homehunters to buy their first property - and even potentially find a partner. The in-depth analysis ranked locations using a number of metrics including; mortgage affordability, the percentage of single-person households and number of possible date locations.
Buyers in the top spot of Liverpool need on average £341 for a mortgage for an average one-bed home (£94,000) - equating to 10.2% of the average salary in the city (£2,664 per month). For those looking to meet a partner in the birthplace of the Beatles, 18% of those aged 24 to 49 in the city live on their own, suggesting a vibrant local dating scene. Picking a place for a date also shouldn’t be a problem as Liverpool has three ‘entertainment and social businesses’ per 1,000 people there including restaurants, bars and pubs.
Moving north of the border, Aberdeen is revealed as Britain's second best place for those looking to buy alone, where approximately 20% of the population are living in one-person households. Here single buyers need to set aside 20% (£526) of their monthly wage to service a mortgage on a one bed home that has an average value of £73,000. The capital cities of Edinburgh (£526 monthly mortgage) and Cardiff (£363 per month) take third and fourth place respectively, while fun-loving Newcastle upon Tyne (£392 per month) places fifth.
Looking at the best places for single people to buy in each region, Bristol, where an average mortgage will cost £689 per month, is revealed as the best for those buying alone in the South West. Singletons in the East Midlands should consider buying in Nottingham where the average one bed home costs £100,000. Elsewhere, in Yorkshire and Humber, Sheffield is ranked as the best location for single people.
Taking a look within London, the Borough of Richmond upon Thames is crowned the number one spot for singletons who want to buy in the capital. However, the average price of a one-bedroom property is £364,000, requiring 37% of the average salary there (£1,321 per month). In second place is the Borough of Islington where the fantastic selection of bars and restaurants mean there are seven and a half potential date venues per 1,000 people. While the average one-bedroom property price rises to £450,000, equating to monthly mortgage costs of £1,633 - just under half of the average salary for the area. In third place is Bromley in South London, which has the most attractive affordability from the city’s top five locations. Here the average mortgage of a one-bed equates to 29% of a person’s salary.
Richard Houston, Zoopla consumer spokesperson, comments: “We know the worth of purchasing your first home and for many people it’ll be their biggest financial commitment. Those looking to purchase a home on their own will likely feel the pressure all the more, or worse, still feel that buying alone is out of reach. Our analysis reveals that it is still possible for someone to afford a property on your own. You might however need to look at slightly more affordable areas or even other cities.
“Affordability is always going to be important but we understand owning your own home can change many aspects of how you live. This includes where you eat, drink and even who you date.”
To help more people get on the ladder Zoopla has introduced the Zooploma; a series of guides and information designed to help first-time buyers navigate the complexities of getting on the property ladder in 2020. First-time buyers can learn about the Zooploma and sign up for free here:
https://www.zoopla.co.uk/
Top 10 best cities for single first-time buyers
|
Rank |
City |
Avg asking price 1 bed |
Monthly mortgage repayment |
Average monthly earnings (Gross) |
Mortgage repayment % of earnings |
% of 24-49 living in one-person household |
Restaurants, pubs, clubs, per 1,000 people |
|
1 |
Liverpool |
£94,000 |
£341 |
£2,412 |
14.1% |
18.3% |
3.0 |
|
2 |
Aberdeen |
£73,000 |
£265 |
£2,597 |
10.2% |
20.0% |
2.6 |
|
3 |
Edinburgh |
£145,000 |
£526 |
£2,673 |
19.7% |
20.0% |
3.9 |
|
4 |
Cardiff |
£100,000 |
£363 |
£2,525 |
14.4% |
13.5% |
3.0 |
|
5 |
Newcastle upon Tyne |
£108,000 |
£392 |
£2,440 |
16.1% |
12.1% |
3.7 |
|
6 |
Hull |
£80,000 |
£290 |
£2,076 |
14.0% |
15.7% |
2.7 |
|
7 |
Sheffield |
£75,000 |
£272 |
£2,348 |
11.6% |
11.8% |
2.6 |
|
8 |
Swansea |
£100,000 |
£363 |
£2,445 |
14.8% |
13.3% |
2.4 |
|
9 |
Leeds |
£120,000 |
£435 |
£2,409 |
18.1% |
13.6% |
2.7 |
|
10 |
Norwich |
£149,000 |
£541 |
£2,186 |
24.7% |
16.4% |
3.5 |
Best cities for single first-time buyers by region
|
Region |
Best location |
Avg asking price 1 bed |
Monthly mortgage repayment |
Average monthly earnings (Gross) |
Mortgage repayment % of earnings |
% of 24-49 living in one-person household |
Restaurants, pubs, clubs, per 1,000 people |
|
South West |
Bristol |
£190,000 |
£689 |
£2,574 |
26.8% |
13.4% |
3.5 |
|
North East |
Newcastle upon Tyne |
£108,000 |
£392 |
£2,440 |
16.1% |
12.1% |
3.7 |
|
Yorkshire and the Humber |
Sheffield |
£75,000 |
£272 |
£2,348 |
11.6% |
11.8% |
2.6 |
|
Scotland |
Aberdeen |
£73,000 |
£265 |
£2,597 |
10.2% |
20.0% |
2.6 |
|
Wales |
Cardiff |
£100,000 |
£363 |
£2,525 |
14.4% |
13.5% |
3.0 |
|
East of England |
Norwich |
£149,000 |
£541 |
£2,186 |
24.7% |
16.4% |
3.5 |
|
South East |
Portsmouth |
£130,000 |
£472 |
£2,412 |
19.6% |
11.3% |
3.3 |
|
East Midlands |
Nottingham |
£100,000 |
£363 |
£2,080 |
17.4% |
15.0% |
2.4 |
|
North West |
Liverpool |
£94,000 |
£341 |
£2,412 |
14.1% |
18.3% |
3.0 |
|
London |
Richmond upon Thames |
£309,400 |
£1,321 |
£3,554 |
37.2% |
12.4% |
5.1 |
|
West Midlands |
Coventry |
£105,000 |
£381 |
£1,651 |
16.2% |
11.4% |
1.6 |
Top five London Boroughs for single first-time buyers
|
Rank |
City |
Avg asking price 1 bed |
Monthly mortgage repayment |
Average monthly earnings (Gross) |
Mortgage repayment % of earnings |
% of 24-49 living in one-person household |
Restaurants, pubs, clubs, per 1,000 people |
|
1 |
Richmond upon Thames |
£364,000 |
£1,321 |
£3,554 |
37.2% |
12.4% |
5.1 |
|
2 |
Islington |
£450,000 |
£1,633 |
£3,470 |
47.0% |
17.6% |
7.5 |
|
3 |
Bromley |
£275,000 |
£998 |
£3,426 |
29.1% |
12.6% |
2.7 |
|
4 |
Lambeth |
£350,000 |
£1,270 |
£3,091 |
41.1% |
15.4% |
4.6 |
|
5 |
Lewisham |
£313,000 |
£1,136 |
£2,837 |
40.0% |
15.4% |
3.3 |
- Ends -
For further information, please contact PR Team on pr@zoopla.co.uk or +44 (0)20 3873 8770.
Zoopla analysed at the cost of servicing the mortgage of one bedroom apartments listed on Zoopla over the last six months until January 2020 (Assuming LTV of 85%, mortgage term of 25 years and interest rate of 2%). Zoopla then compared it to the average gross earnings in the area (ASHE, 2019) to find out the mortgage repayment percentage of gross earnings value; an indicator of affordability.
Zoopla then ranked locations with the percentage of one-person households (ONS & Scotland census data) and hospitality and entertainment businesses numbers (ONS).
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