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Canterbury among least affordable places to buy homes according to Lloyd's Bank report

By Ellis Stephenson

Canterbury has been named one of the most expensive places to live in the country - with house prices rocketing by almost 30% in a decade.

A review by Lloyd's Bank, which examines how affordable homes are in cities, found the cost of buying a property in Canterbury has jumped by 29% since 2007.

Back then, the average house price in the area was £256,629 - compared to £330,386 today.

The average house price in Canterbury has spiked by 29% in a decade. Stock image
The average house price in Canterbury has spiked by 29% in a decade. Stock image

It ranks Canterbury joint fifth place with Cardiff in the league of the most unaffordable cities in the UK.

Only Cambridge, St Albans, Brighton & Hove and Greater London had seen a greater rise in property prices.

According to the report released today, the average property price in cities across the country is £232,945 - a jump of 12% from the 2007 average price of 207,750.

Lloyd's Bank mortgage products director, Andy Mason, said: “City living suits the lifestyles of many people looking for shorter commutes with much of what they need on their doorstep, but buying a city property is the least affordable it’s been for a decade.

"There is also a clear north-south divide with only one southern location appearing in the top 20 most affordable cities and only one northern location appearing in the top 20 least affordable."

Last year KentOnline revealed the average house price in the county. Click here to see how your area fared.

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