Scottish city revealed as Britain's cheapest place to buy first home or rent
dailyrecord.co.ukThe cheapest city to rent and be a first time buyer has been identified as Aberdeen, according to a report by Rightmove.The Grey Cty is the most affordable place to get on the property ladder not just in Scotland but in Britain.
The real estate company found that the average asking price for a first-time buyer-type property with two bedrooms or fewer in Aberdeen is £102,601.On the other hand, Edinburgh broke the top 10 list of places most expensive place for renters and first time buyers.
Compared to Aberdeen's average monthly rental payment of £775, Edinburgh's was reported to be £1,310.With a 20 percent deposit in Aberdeen, Rightmove calculated that the typical first-time buyer could pay about £406 monthly in mortgage costs.
This compares to the typical asking price of £501,934 and monthly mortgage of £1,862 of London - the most expensive city to be a first time buyer.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.
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