THE TOP five most affordable towns to buy a home in Scotland have been revealed, according to new figures.
Property firm Zoopla provided a rundown of the most affordable locations across the UK.
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The study compared the cheapest areas to buy a house in 2024 in a bid to help those who plan to get on the property ladder in the coming months.
The experts analysed house value-to-earnings ratios, based on a two-earner household, on an average salary for each local area.
With that data, they created a list of the top five most affordable spots in each region across the UK.
And five Ayrshire locations were deemed as being the cheapest locations to buy a home.
Of all the towns in Scotland, Cumnock was named the number one most affordable place to buy a property.
The average value of a house in the East Ayrshire town comes in at around £80,300, according to figures in October 2024.
While the estimated annual household income (from figures in September 2024) is £75,800.
It was named as the most affordable because it has a house value-to-earnings ratio of just 1.1, while the average home in Britain is valued at 3.8 times the local average annual household income.
Coming in at a close second on the table is Girvan, where the average value of a property is £105,100.
The South Ayrshire location also has an average income of £88,400, giving it a house value-to-earnings ratio of 1.2.
The last three spots that make up the top five are all located in North Ayrshire and each has a ratio of 1.3.
In third place is Saltcoats, with the average home costing £96,200 and the average income sitting at around £77,100.
While Ardrossan has an average property cost of £96,900 and the same average income.
Irvine takes the last stop in the top five with an average property value of £99,200 and an average income of around £77,100.
Most affordable town in each region
Region – Postal Town, Average house value, Estimated annual household income (Ratio)
East Midlands – Gainsborough, £170,000, £70,500 (2.4)
East of England – Wisbech, £209,800, £70,900 (3.0)
South East – Dover, £250,000, £79,300 (3.2)
South West – Plymouth, £222,200, £68,300 (3.3)
Wales – Ferndale, £101,600, £67,700 (1.5)
West Midlands – Stoke-On-Trent, £139,200, £62,100 (2.2)
Yorkshire and The Humber – Hull, £119,800, £62,200 (1.9)
London – Croydon, £417,800, £84,800 (4.7)
North East – Shildon, £73,200, £65,800 (1.1)
North West – Workington, £123,700, £76,900 (1.6)
Scotland – Cumnock, £80,300, £75,800 (1.1)
Experts at Zoopla have said these figures towns are “significantly more affordable” to buy a home in than the rest of UK.
They said: “Whilst the average home in Britain is valued at 3.8 times the local average annual household income, there are many areas where this ratio is much lower, making homes significantly more affordable.Â
“Ayrshire, in the southwest of Scotland, has a particularly high concentration of affordable towns to buy, with the average home in the four most affordable parts of Ayrshire valued at less than 1.3 times the annual household income.
“Four out of five of Britain’s most affordable towns, Cumnock, Girvan, Saltcoats and Ardrossan, are located in this area.
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“Cumnock is Britain’s most affordable town to buy, with average property values of £80,300, significantly below the UK average house price of £267,500.
“Shildon, Peterlee (both in county Durham) and Ashington (Northumberland) are the most affordable towns for buyers in England, with homes valued at less than 1.4 times local household incomes.”
