Preston is the sixth most affordable UK city for first time buyers according to Co-Operative Bank study

The Co-operative Bank research ranked Preston in sixth place behind towns such as Belfast and Blackpool but it's cheaper than Bradford and Liverpool.

Additional average costs including conveyancing at £1,483 and surverys of £420 completed the total price for buying at £170,856. And down the road, Blackpool was ranked as the cheapest at £135,995 including the additional costs. Quality of life and safety are important for first time buyers to consider, but affordability remains a top priority when getting on the property ladder.

Mortgage experts analysed 30 UK cities based on metrics and drew their research on average house prices, average conveyancing costs and average surveying costs to reveal the most affordable UK cities to invest in your first property.

Warren Cain, Head of Mortgage Products at The Co-operative Bank, said: “If you’re planning to buy your first home, the very first step is to save up money for a deposit. Typically, you’ll need to save a minimum of 10% of the cost of the property you want to buy.

“You’ll also need to figure out how much you can afford to spend and create a budget. Don’t forget to factor in extra costs too, like conveyancing and surveying fees."

Kingston upon Hull is the second-most affordable city. The average house price there is £138,031, giving a total cost of £139,934 with surveying and conveyancing fees.

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