money.co.uk have examined house price data via Zoopla, and found that there are fifteen cities in the UK, where buyers could purchase a home with a deposit of less than £10,000. They then analysed the most recent UK salary data to rank the affordability of these cities.

Money.co.uk has additionally found that there are thirty-nine cities in the UK where the average value of a deposit is less than £15,000. Of these, the most affordable is Bradford, where the average property price sits at £133,150.

With the help of the government’s new guarantee scheme, the average buyer deposit in the city would total £6,658. This is around a quarter of the average Bradford annual salary.

In contrast, those wanting to secure a property in Bradford with a deposit of 15% would be required to put down £19,973. Outside of Bradford, buyers looking for an 85% LTV mortgage, would need to fork out a deposit of over £20,000 across all UK cities.

Research found that Carlisle, Aberdeen City and Sunderland are also a solid options for those looking to purchase a property with a low deposit (of £8,143, £8,101 and £7,426 respectively).

London is the least affordable city to buy in. However, despite the higher income to deposit ratio, those hoping to purchase a home in London will benefit the most from the 5% deposit scheme.

The average property in London totals £644,631. On average, prospective buyers would have to save up almost £96,695, with an 85% LTV mortgage. Therefore, while the 5% ask of £32,231 is still a largesum, it elevates the pressure of saving an additional £64,464.

Please see our second table below, detailing the 39 UK cities, where the average value of a house deposit is less than £15,000, ranked in order of affordability: