North Devon 'the least affordable place in the UK'

New research has revealed that North Devon is the least affordable area of the UK to live, it has emerged.

Homes in north Devon cost an average of £252,792, which is 9.1 times the local annual average earnings of £27,853, Halifax Estate Agents has claimed.

The next least affordable rural district is east Devon and the research indicates that seven of the ten least affordable areas can be found in the south-west.

Builders looking for an affordable rural plot could take a look at Copeland in the north-west, which was found to be the most affordable rural area with an average house price to earnings ratio of 3.9.

According to the BBC, the department for communities and local government said the government is looking to help increase affordability in the countryside by increasing the housing stock in the countryside across the UK.

A spokesperson for the department said that Gordon Brown has "committed £8 billion for the biggest-ever national affordable housing programme".