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What are Scotland's most and least affordable cities?

The average house price in Scottish cities has increased by 3.7 per cent in a year, from 2017’s figure of £190,250 to £197,308 in 2018, according to recent research.

The latest Bank of Scotland research found the average earnings have risen 3.3 per cent, resulting in home affordability remaining broadly stable over the past year – from 5.36 to 5.38 times the average earnings.

Average house price change in five years

Aberdeen has experienced Scotland’s most significant boost in home affordability as average house prices have risen just 2 per cent since 2013, from £200,736 to £203,944. Perth came in second with a rise of 16 per cent (£159,050 to £184,041). This is compared to an average of 30 per cent (£219,746) in Scottish cities in the last five years.

The data revealed that Stirling homes are more affordable than they were in 2013, reducing from 5.6 to 5.0 times the average salary. Perth was the only other Scottish city to see affordability improve, dropping from 5.4 to 5.1 times the average wage in five years.

Stirling is the most affordable city in the UK

For the sixth consecutive year, Stirling ranked as the UK’s most affordable city. When comparing average house prices to wages, the average house price in Stirling of £182, 236 is 4.40 times the local average earnings. This is below the national average in Scotland of 5.4 and the UK average of 7.5.

The average house price in Stirling has increased by 41 per cent in the last five years – rising from £136,036 to £192,326 – faster than any other city in Scotland.

Scottish capital has the least affordable houses

Edinburgh has been named as the least affordable city in Scotland, with average house prices at £266,455 - 6.54 times the average earnings. The least affordable city across the entire UK was named as Oxford, with an average house price to earnings ratio of 12.6.

The report concluded that six of the top 20 most affordable cities across the UK in 2018 were in Scotland; Stirling (4.4), Aberdeen (5.0), Perth (5.1), Dundee (5.4), Glasgow (5.5) and Inverness (5.8).

Ricky Diggins, director at Bank of Scotland, said:

“Although we’ve seen house prices rise dramatically in Stirling and homes in Glasgow become less affordable over the past five years, Aberdeen has in fact seen the biggest improvement.”

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