Hull crowned as second most affordable place to live

Hull has been crowned as the second most affordable place to buy, as revealed by Barratt Developments Yorkshire East.

When comparing the ratio of the average house price to the average annual income for popular areas across Yorkshire and North East Lincolnshire, Hull sits at a comfortable rating of 5 and an average house price of £166,540. This makes Hull the second most affordable place to buy a new home behind Grimsby.

“We’ve found that there’s been a real appetite in house-hunters who are truly wanting to find the best value for money with their home.” comments Sarah Hanna, Sales Manager at nearby developments Minister View and Queens Court in Beverley. “Amidst the cost of living, we’re not surprised that customers are increasingly looking for a cost-savvy investment for their future. We’ve seen this in all sorts of people, from first-time buyers stepping onto the property ladder to families who are looking for their forever home, and it’s something we expect to continue.”

A recent report found that when it comes to saving significant costs on energy prices, buying a new build property is one of the best ways to achieve this. 

Linzi Bentley, Sales Manager for developments Harland Park and Poppy Fields in Cottingham, says: “With savings of up to £3,100 a year, buying a new build property is extremely cost-effective. All of our properties at our Hull-based developments achieve an energy-efficiency rating of A or B, as we’ve implemented a variety of measures to help keep the warmth in, the cold out and our customers’ bills down. These measures include insulation technology built into the external walls, water efficient kitchen and bathroom fittings, and the latest energy saving appliances fitted as standard.”

When it comes to other affordable areas across Yorkshire and North East Lincolnshire, Barratt Developments has found that Hull closely follows Grimsby, which sits at a ratio of 4.3. Meanwhile Bridlington and Doncaster follow as joint third most affordable places, with a ratio of 5.4.

The top five most affordable places to live in Yorkshire and North East Lincolnshire, include:

  • Grimsby (4.3)
  • Hull (5.0)
  • Bridlington (5.4) and Doncaster (5.4)
  • Micklefield (5.7)

Sarah continues: “For interested buyers who are looking for their next steps and are keen to keep costs low, we’d recommend popping by our local Sales Offices in Brough, Cottingham, Beverley or Hessle to find out more information about our remaining properties, and the various incentives and schemes that we have on offer too.”

Barratt Developments, which includes Barratt Homes and David Wilson Homes brands, has multiple developments within East Riding of Yorkshire, including Harrier Chase in Brough, Harland Park and Poppy Fields in Cottingham, Minster View and Queens Court in Beverley, and Hesslewood Park and Fleet Green in Hessle.