A RECENT study by property loan specialists Buzz Capital has seen Coventry secure the second spot as the most affordable area to buy a property in the West Midlands.
The analysis examined housing affordability across seven areas in the region, highlighting significant differences in property prices relative to average annual salaries.
According to the study, Coventry stands out with properties selling for an average price of £241,323 over the past year.
In contrast, the average annual salary in Coventry is £38,600.
This translates to an average salary equating to approximately 16 per cent of the average property price, putting Coventry as the second most accessible option for property buyers in the West Midlands.
Solihull emerged as the least affordable borough for property buyers.
Despite an average annual salary of £47,400, and properties selling for an average price of £363,609 over the same period, this results in an average salary equating to just 13 per cent of the average house price.
