OXFORD remains the UK’s least affordable city for buying a house, according to a new report by Lloyds Bank.

City house prices have outpaced earnings growth by 11 per cent, causing home affordability to reach its lowest level since 2007, bank bosses have found.

The average house price within UK cities has risen from £180,548 in 2013 to its highest ever level of £248,233 in 2018. Average annual earnings in cities over the same period have risen by just 11 per cent to £34,366.

So what can you buy if you're on UK average wage - THESE ONES (one is a boat)

Oxford has an average house price of £460,184, 12.6 time average annual earnings in the city (£36,430), making Oxford the UK’s least affordable city.

Andrew Mason, mortgage products director, said: “Buying a home in UK cities remains challenging, as average house prices are outpacing wage growth. However, the market has seen the number of first-time buyers at a high and home owners are still attracted to cities across the UK, in spite of rising costs. Over the past five years, more than half of northern cities have made the UK top 10 in house price growth, whereas over a longer period southern cities dominate.”

There are seven cities with average house prices above 10 times the average annual earnings.

As well as Oxford, these are Chichester (11.5), Winchester (11.3), Truro (11.1), Greater London, Bath and Cambridge (all 10.3).