First time buyers cannot afford houses?

[sobrique]

Well, the BBC is running an article titled First-time buyers face price woe
Basically, according to a survey from Halifax, first time buyers cannot afford houses in 92% of UK towns.
The compared the average house price with the average salary, and used the 'unaffordable' threshold at 4.27x salary.

Which really isn't news to anyone who's looking at the market at the moment.

Coventry, the situation looks like this:

Coventry
Average Cost: £130,325
Detached: £250,721
Semi-detached: £145,542
Terraced: £108,801
Flat: £91,466

So if you want to go and buy your own flat, you're going to need to be earning around £26k a year (assuming 3.5x salary mortgage). Oh, and will need a little over £4.5 grand up front for the deposit. OK, so if you're a couple, things get a little easier, but ...

Of course, the best bit, is if you get a morgage for your £130k, (at 5%) it'll cost you £768 a month.
But don't worry, a flat will only cost £538.

This is of course, for an 'average' house. I'm not quite sure what the baseline for 'average' is in and around Cov.

So, Scotland then?