Oxford and Cambridge: Property’s least affordable UK cities
The country’s two famous university destinations have been ranked the least affordable cities in Britain, following a recent survey by Lloyds Bank.
Oxford topped the list again, reported The Telegraph this month, ‘with property prices 11.5 times higher than average annual earnings in the region’. The ratio for London, in comparison, is 10.2 times. The average cost for an Oxford home is now almost £430,000, with rises fueled by people moving out of the capital to seek greater property value for money. Cambridge came second (10.5 ratio), no doubt in large part to the area’s thriving science and technology industries.