A new study analysed UK cities to find the most affordable locations for family housing based on earnings, property costs, and disposable income.
A historic Scottish city have been named as the best place in the United Kingdom for families to call home.
Nearly 4.3million households across the UK are renting their properties, with many struggling to find appropriate accommodation that fits within their financial means and meets their needs. However, with numerous people continuing to work from home, there’s increased flexibility regarding where you can reside compared to before the pandemic.
New analysis by property purchasing company Housebuyers4u has examined major UK cities to identify those providing the most budget-friendly family housing. The home experts found that Aberdeen is the number one spot in the United Kingdom to set down roots.
The study investigated factors including average household earnings, property values, mortgage payments, council tax charges, and remaining income following housing costs – with one UK city claiming the top position.
The findings
Aberdeen secures first place as the premier location for family accommodation in the UK; this is due to families living in this region keeping £12,790 each year after meeting living costs, indicating these households possess the highest disposable income.
Additionally, Aberdeen features remarkably secure areas – significantly exceeding UK standards – while the city centre provides family-oriented entertainment options, reports the Express.
Transformation
The harbour city in Scotland is renowned for its grey stone structures, giving Aberdeen the moniker “the Granite City”, though the region is presently experiencing substantial redevelopment.
Union Street, a principal retail corridor in Aberdeen, is expected to see extensive modifications as part of what has been described as the most ambitious scheme of its type in more than 200 years.
Furthermore, Aberdeen’s Union Terrace Garden is set for a revival with a £28 million regeneration scheme.
Things to do and see
Aberdeen’s beach is a favourite spot for both locals and tourists, but there’s no shortage of activities in the surrounding area – whether you fancy an ice cream or a trip to the nearby Codona’s Amusement Park.
Other affordable cities
Other cities that made the list include Derby, which secured second place with residents retaining £10,135 annually after covering all housing and living costs. Derby also boasts low crime rates and offers around 40 recreational facilities for children.
Glasgow clinched third place in the UK’s family housing rankings, as households retain £6,234 annually after covering all expenses.
Significantly, the city offers low median house prices at just £217K and affordable mortgage payments. While housing availability is moderate, those who secure a home can enjoy safe neighbourhoods and access to over 120 children’s amenities.
Meanwhile, earlier this year research highlighted the most affordable parts of Scotland for those living alone.
A study by Financial Interest compared council tax, average living costs, net earnings and disposable income to identify where solo renters can save the most.
East Renfrewshire came out on top, with average net earnings of £29,868 and relatively low annual rent costs of £8,064, accounting for just 22 percent of income.
South Ayrshire ranked second, with solo renters paying around £6,912 a year in rent against average earnings of £28,042, or 20 percent of income.