OXFORD has been revealed as the least affordable location in England for first-time buyers according to new figures.

Based on the average monthly mortgage payment as a percentage of income, Oxford was the least affordable location in England for first-time buyers with the average monthly mortgage repayment taking up 49.37 per cent of a couple’s take home pay.

This is based on an average property price in the city of £540,005 and an average annual salary of £31,232.

ALSO READ: Family plagued by mould for two years told to 'open a window' by estate agency

The recently-launched Homes scheme affordability index by the Government looked at various factors affecting home affordability in June including house prices, average annual salary and monthly take home pay to work out where in England was most and least affordable.

Bath (47.65 per cent) and London (47.12 per cent) made up the top three while Bradford (14.30 per cent), Blackpool (15.94 per cent) and Stoke-on-Trent (17.35 per cent) topped the list for the most affordable locations.

The ten least affordable areas in England based on mortgage as a percentage of income were as follows:

Oxford (49.37 per cent)

Bath (47.65 per cent)

London (47.12 per cent)

Reading (38.98 per cent)

Poole (38.72 per cent)

Cambridge (38.49 per cent)

Brighton (37.19 per cent)

Slough (36.68 per cent)

Cheltenham (36.38 per cent)

Exeter (35.03 per cent)

Keep up to date with all the latest news on our website, or follow us on Facebook, Twitter and Instagram.

For news updates straight to your inbox, sign up to our newsletter here.

Have you got a story for us? Contact our newsdesk on news@nqo.com or 01865 425 445.