Bristol considered one of the worst cities for first-time home buyers

The analysis from the family mortgage broker Tembo suggests that the average property price in Bristol is 7.87 times higher than average local income.

In summary, the average property price in the city was £248,413, with the average income per year being £31,568.

The research suggests that Southampton is the worst city for first-time home buyers with the average property price being 8.65 times higher than average local income while the average property price in the city was £246,042 and the average income per year was £28,459.

A pile of cash with miniature red model houses on top (PA)

On the other end of the spectrum, Sheffield was found to be the most affordable city for first-time home buyers, with properties being 4.65 times higher than average local income.

Richard Dana, Founder and CEO of Tembo, said: “There are undoubtedly common challenges impacting Britain’s first time buyers, but it’s also important to realise that every would-be first time buyer has their own story, and there are a range of issues impacting people’s ability to get on the property ladder.

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“Our client data shows that the story across the country is really quite varied and that one-size-fits-all solutions are, therefore, unlikely to work.

“It is vital that mortgage providers take time to understand and appreciate everyone’s individual circumstances in order to provide solutions that ensure the security of future home-owners and the sustainability of the market as a whole.”

The figures are based on 16,126 Tembo records dated between January 2020 to June 2022.