Leeds has been named as one of the UK’s top ten most affordable cities for first time buyers.
The average house price is £147,075 – a whopping £350,000 less than comparable London prices according to Online Mortgage Advisor.
However, its online tool, ‘Is The Grass Greener’, which allows you to compare one city against another on the vital need-to-knows before re-locating, suggests that this figure could even be as much as £648,031 more expensive in London when searching for a two-bedroom terrace.
The statistics have been revealed at a time when students and graduates are likely to be on the move as they chase jobs and careers.
It also looks at lifestyle factors such as crime-rates, price of petrol, school performance and the all important price of a pint.
The capital growth of Leeds comes out better at six percent compared to London’s minus one, beer is £2.50 a pint compared to £3.30 and crime for every 1000 residents is 6.45 for Leeds and 25.5 in London.
David Bird, director at Online Mortgage Advisor, said: “The stats from this survey evidence the sentiment that we’ve recognised in our own customers over the past couple of years.
“The number of first-time buyers coming to us with enquiries about mortgages on properties outside the capital is on the rise, and we expect to see this continue as more and more people consider themselves to be priced out of London and start looking to buy in regional UK cities, such as Leeds.”
However, primary schools were reported as being better performing with reading, writing and maths progress, being above the national average in London but in Leeds it was either at the national level or below.