Sheffield Property: Sheffield is best city for first-time buyers, new data shows
First-time property buyers are best looking in Sheffield when trying to get their foot on the property ladder according to data from mortgage brokers, Tembo.
The data ranks the UK’s best and worst cities based on how many times you’d need to multiply the average salary in each city in order to afford the average property price.
Sheffield comes out number one on this list, with the average salary needing to be multiplied 4.65 times.
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The city is number two on the list of 13 major cities in terms of average salary, trailing only London, and the fourth lowest house prices.
Leeds sits eighth on the list with properties being worth 7.35 times the average salary.
It has the lowest average salary of all the cities in the data, but the fourth best property price average.
These data figures were based on Tembo records between January 2020 and June 2022.