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Here's how much you need to earn to afford a house in Cambridge â on your own
Cambridge has been revealed as one of the most improved areas for affordability for single people
These properties around Cambridge could be good for singles to get onto the property ladder (Image: Zoopla)
Buying a property has become harder over recent decades but it is especially difficult if you are looking to buy a house on your own. A study by Zoopla has revealed the monthly average salary needed to be able to buy a home on your own in Cambridge.
The median price of a one or two-bed property in Cambridge is around £391,470. This means single locals would need to put aside around £1,490 a month from their salary for mortgage repayments.
On average, people in Cambridge earn around £3,850 a month with the annual value to earnings ratio for Cambridge coming out at 8.5. One of the most affordable areas in the East of England is Peterborough where the median price of one or two-bed properties is around £186,200. The average monthly salary in Peterborough is £3,060, meaning hopeful homeowners only need to pay £710 a month towards a mortgage.
However, there are some areas across the UK that are more affordable than others if you want to get onto the property ladder such as Aberdeen and Liverpool. Cambridge was revealed as one of the most improved cities for affordability for singles alongside Bristol, Oxford, and Portsmouth.
Daniel Copley, Consumer Expert at Zoopla said: âFor singletons, buying a first home can feel a little bit like dating and just like dating, first impressions matter. However, itâs important to dig deep into your potential new home as itâs what's below the surface that determines long-term compatibility. Take your time and do your research before making that ultimate commitment to swipe right on a home.â
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The properties in the photo gallery are all around the median price of houses in Cambridge and can be found on the Zoopla website. You can take a look inside of them below.
Thrifts WalkThis two-bed house can be found in Chesterton (Thrifts Walk, Cambridge)
(Image: Zoopla)1 of 25The living room is still spacious for the price (Thrifts Walk, Cambridge)
(Image: Zoopla)2 of 25The kitchen also fits a dining table (Thrifts Walk, Cambridge)
(Image: Zoopla)3 of 25The property is on the market for £400,000 (Thrifts Walk, Cambridge)
(Image: Zoopla)4 of 25This single room could act as a spare room or office space (Thrifts Walk, Cambridge)
(Image: Zoopla)5 of 25
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Twitter (X), Inc. was an American social media company based in San Francisco, California, which operated and was named for its flagship social media network prior to its rebrand as X. In addition to Twitter, the company previously operated the Vine short video app and Periscope livestreaming service
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