New research from Zoopla has revealed that Glenrothes in east-central Scotland is the most popular affordable town in Great Britain for those looking to buy a family home, with Scotland and Wales home to the majority of the most popular affordable towns in the UK.
Situated in the heart of Fife, just one hour from Edinburgh, Glenrothes offers an easy-going pace of life, nestled amongst beautiful landscapes.
Those hoping to buy in the area will need to pay an average of £5402 in monthly mortgage payments for a three-bedroom home, based on an average value of £136,900.
All of the towns in the top ten were located in Scotland and Wales, apart from Dartford and Swanley in the South East.
DARTFORD CROSSING
Families looking for a three-bed home in Dartford will need to pay an average of £1,680 in monthly mortgage payments, based on an average value of £423,600.
Despite high property prices in some areas, there are affordable options for families hoping to buy a three-bed home in each region. Barking and Dagenham is the most popular affordable area in London.
Families looking for a three-bed home will need to pay an average of £1,750 in monthly mortgage payments, based on an average value of £440,300.
LIVERPOOL LOVER
Bootle has been identified as the most popular affordable town in the North West, with three-bed homes valued at half the national average at £142,900.
This affordability, combined with access to great transport connections to Liverpool city centre, makes it an attractive place for families in the area.
LISTING VIEWS
Buyer interest, as measured by listing views, was twice as high for three-bedroom homes in the most popular affordable towns compared to the regional average for similar properties.
This heightened popularity underscores the appeal of these more budget-friendly locations for families
PRICED OUT
Affordability anxieties are gripping UK adults, with a separate survey undertaken by Zoopla revealing that over a third (34%) are not confident they can afford their ideal family home location.
Whilst mortgage rates have declined recently, they remain higher than pre-2022 levels, with the average monthly payment for a £304,600 three-bed home currently sitting at £1,210.
This is at odds with those surveyed who said that they felt £870 was a reasonable mortgage payment.
WILLING TO MOVE
Those who were willing to move from their ideal location to afford a family home said they would only be willing to move an average of 41 minutes away.
This reduced to just 35 minutes in the North East, with those in the West Midlands most willing to move the furthest away (45 minutes).
Of those surveyed, 37% said they would be happy to move to an entirely new region in the UK to purchase a more affordable family home.
LOCATION, LOCATION, LOCATION
A resolute two in five declared they were simply unwilling to move from their ideal location, with nearly half (49%) citing a deep-rooted love for their area as the unbreakable tie that binds them to their current home. For those open to moving, the driving factors are clear.
Significantly, 41% said they require more space without breaking the bank, while a fifth said they are eager to finally step onto the property ladder and leave renting behind.
Interestingly, a third of Brits said they were willing to compromise on the number of bedrooms to secure a home in a better neighbourhood for their family, highlighting the importance of location and lifestyle.
CLEAR PICTURE
Richard Donnell, Executive Director at Zoopla, says: “This latest analysis paints a clear picture of a market where affordability remains a critical factor for families planning their next home move.
“Our analysis identified the most affordable areas for families seeking value for money.
“What’s particularly telling is the level of buyer interest these towns are attracting; three-bedroom homes in the most popular affordable locations are seeing twice the amount of listing views compared to the regional average.
“This heightened popularity, coupled with the significant portion of would-be buyers expressing concerns about being priced out of housing, underscores the ongoing challenges facing movers and the clear appetite for value.”
PROPERTY COMPROMISE
And he adds: “The willingness of many to consider different regions or compromise on property features further highlights the adaptive strategies families are employing in today’s market.
“Ultimately, understanding these regional dynamics and the intensity of demand in affordable areas is crucial for both those looking to move and the agents supporting them in this evolving landscape.
“Zoopla has invested in developing a range of tools and insights to help motivated movers track the value of their homes, plan their move and search for homes using keywords that cover property features”
CAREFUL CONSIDERATION
Toby Leek, NAEA Propertymark President, says: “Purchasing a house is one of the most important decisions many people tend to make, so it’s important to carefully consider all aspects.
“While price is a key factor, it remains vitally important to consider factors such as local job markets, transport links, the provision and performance of local education and health care services, plus what future improvements might be planned within the area to help ensure any home purchase becomes a truly robust investment for years to come.”
