First time buyers advised to look to Yorkshire

04-Sep-2007

First time buyers looking for an affordable home but not wanting to compromise on quality of life should look to Beverley in Yorkshire, the Royal Bank of Scotland (RBS) has advised.

Research from the bank has found that the town combines an average house price of £182,000 (just £2,000 higher than the national average) with a high quality of living.

The RBS Affordable Affluence Index noted that the presence of good schools and an absence of perceived 'negative' characteristics such as betting shops or fast-food chains contributed to a sense of affluence in the region.

"What the example of Beverley, and the other towns that make it into the index show, is that a moderately wealthy lifestyle is well within the reach of many more people than probably realise it," said Harry Keogh, RBS head of private banking.

The study also added that the town's average income of £37,000 meant house prices were not out of reach for the majority. Separate research from Barclays revealed that the most affluent area of England outside of the capital is Beaconsfield in Buckinghamshire, which has an average household income of £74,375.

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