Southampton is the 11th least affordable city in the UK, according to new research from Lloyd’s Bank.
While, Winchester – where Southampton has a second campus – is the second least affordable in the UK, with a cost of living even greater than London, while Southampton is the fifth least affordable City in the South East.
Winchester also topped the table of house price growth, with prices rising 79% in the last 10 years, jumping from an average of £249,703 in 2006 to £446,796 today.
In Southampton, the average house price is 8.33 times the average salary, in Winchester it is 10.54
The results show that homes are less affordable than at any time in the past eight years, significantly worsening in the last eight years. They also show that there is no longer a city in Southern England where house prices are less than 7.5 times the average local income, and 17 of 20 of the least affordable cities were in southern England.