Cheap flats to rent: cheapest areas for renters and city houses for first-time buyers revealed by Rightmove

Carlisle has been revealed as the cheapest city for renters, while Aberdeen is the least expensive city to buy a first home, analysis suggests.

According to data from Rightmove, the average asking price in Aberdeen for a property for first-time buyers that has two bedrooms or fewer is £102,601.

Rightmove calculated that a first-time buyer in Aberdeen could expect to pay approximately £406 a month in mortgage costs, assuming a 20% deposit. The website also found that the average advertised rent in Carlisle is £607 per month.

With a cathedral and pubs that are steeped in history and its commuter links to London, St Albans in Hertfordshire was named by Rightmove as the most expensive city to be a first-time buyer outside London, followed by Cambridge and Winchester.

Oxford was identified as the most expensive city outside London to rent. The research looked at more than 50 cities across Britain.

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It made certain assumptions about mortgage costs, including that first-time buyers in Scotland and Wales had a 20% deposit and were taking out a five-year fixed-rate mortgage at average rates.

It also assumed that first-time buyers in England had a slightly higher deposit, at 25%, reflecting industry averages for deposit sizes, and were taking out a five-year mortgage.

After Aberdeen, Bradford was found to be the next cheapest city to be a first-time buyer, with an average asking price of £107,929, with Sunderland placed third, with an average price tag of £111,263.

The cost of renting a two-bedroom or smaller home has increased by 39% in the last five years, compared with a 19% jump in the cost of buying a two-bedroom or smaller home, Rightmove said.

Rightmove’s property expert Tim Bannister said: “These latest figures highlight why so many people remain determined to get onto the ladder, as the soaring costs of renting has meant buying has remained attractive even with higher mortgage rates.

“Longer mortgage terms are becoming more common as a way to improve overall affordability and reduce monthly payments, though first-time buyers should be aware of what they are paying in interest compared with their actual mortgage.”

Here are the 10 cheapest cities to get on the property ladder according to Rightmove, with the average asking price for a typical first-time buyer home and the typical monthly mortgage payment, assuming a 35-year mortgage term:

1. Aberdeen, £102,601, £406
2. Bradford, £107,929, £400
3. Sunderland, £111,263, £413
4. Carlisle, £111,268, £413
5. Preston, £112,273, £416
6. Hull, £113,920, £423
7. Dundee, £116,191, £460
8. Stoke-On-Trent, £117,113, £434
9. Durham, £125,957, £467
10. Doncaster, £128,062, £475

Here are the 10 most expensive cities to get on the property ladder according to Rightmove, with the average asking price and the typical monthly mortgage payment, assuming a 35-year mortgage term:

1. London, £501,934, £1,862
2. St Albans, £391,964, £1,454
3. Cambridge, £361,429, £1,341
4. Winchester, £344,638, £1,278
5. Oxford, £338,085, £1,254
6. Brighton, £335,402, £1,244
7. Bristol, £280,112, £1,039
8. Chelmsford, £262,522, £974
9. York, £244,834, £908
10. Edinburgh, £239,028, £946

Here are the cheapest cities to rent, according to Rightmove, with the average advertised rent per month:

1. Carlisle, £607
2. Hull, £638
3. Sunderland, £648
4. Stoke-On-Trent, £701
5. Doncaster, £707
6. Bradford, £714
7. Wrexham, £754
8. Lancaster, £764
9. Aberdeen, £775
10. Preston, £787

Here are the most expensive cities to rent, according to Rightmove, with the average advertised rent per month:

1. London, £2,264
2. Oxford, £1,561
3. Cambridge, £1,533
4. St Albans, £1,509
5. Brighton, £1,468
6. Bristol, £1,336
7. Winchester, £1,332
8. Edinburgh, £1,310
9. Chelmsford, £1,300
10. Milton Keynes, £1,239