INVERCLYDE is top of a British housing affordability league according to a new survey.

The news was welcomed today by the council as a boost to their campaign to encourage more people to live in the area.

The survey says homes across half of the United Kingdom are more affordable than before the financial crisis, with the gap between the least and most affordable parts of Britain almost doubling since 2007.

And Inverclyde has shown the greatest improvement in affordability since then — at a rate of 42 per cent.

The survey was conducted by the Yorkshire Building Society, who say London and other parts of England have become increasingly difficult for first-time buyers, but the gap between earnings and house prices has fallen most dramatically in Scotland, Wales and northern England, making homes more affordable than before the credit crunch.

The findings are based on official earnings figures and Land Registry data for house prices in 356 local authority areas.
Inverclyde Council leader Stephen McCabe says the survey highlights what a great place Inverclyde is to live.

He said: “As part of the Inverclyde Living and re-population campaign, our aim has been to promote Inverclyde as a place to live and visit to as wide an audience as possible.

“If this information encourages young people to see Inverclyde as an affordable alternative to moving outside of the area, then that will be a good thing for our area long-term.

“If it helps to encourage people thinking of moving home to recognise Inverclyde as a good place to live with tremendous assets, then that is something to be encouraged.”

Commenting on the survey, Port Glasgow estate agent, Brian Harkins, says average second-hand property prices are still well below the level they were in 2007, before the financial crash.

He said: “This is why the gap in affordability has reduced locally.

“However due to supply and demand, the market has been on a upward trend in the last 12 months, and the local second-hand market prices are steadily beginning to recover.”

Blair & Bryden Best Move solicitor partner, Harry Gray, said he wasn’t surprised at the findings.

He said: “Students and other people are renting here, particularly near to Gourock rail station, and travelling to Glasgow.

“An average two-bedroom rental in Gourock would be £450 a month, but £1,200 a month in Glasgow’s west end, so it’s cheaper to stay here and take the train.

“Prices are fairly steady here.”