Study: City homes more affordable

Home affordability for people living in the UK's cities is at its most favourable in nearly a decade, a study has found.

The typical price for a city home is £173,202, equating to 5.5 times gross annual average earnings, the lowest ratio since 2003 and way below the peak of 7.2 recorded in 2008, the Lloyds TSB Affordable Cities review said.