£80k homes!...Britains most affordable place to buy is former mining town of Cumnock

It is a town that has seen its population steadily fall since the decline of coal mining in the 1980s.

But now Cumnock in Ayrshire has been named the most affordable place to buy a home in Britain.

Located 15 miles from Kilmarnock, it was named Britain’s most affordable town to buy in 2024 with an average property value of £80,300, according to a new study by property experts Zoopla.

This figure was found to be significantly below the UK average house price of £267,500.

Located only two miles from King Charles’ 2000-acre Dumfries House, the small town has a population of approximately 8,700 people and a strong industrial past.

Cumnock in Ayrshire was named as Britains most affordable town to buy property

But with a decline in heavy industry, its population has decreased by more than 8 per cent over the past 40 years.

Scotland as a whole was found by Zoopla to be a hotspot for Britain’s most affordable homes, with Ayrshire in particular having a high concentration of affordable properties available to buy.

Houses in Ayrshire were valued at less than 1.3 times the annual household income, whilst four out of five of Britain’s most affordable towns were also located in this area.

Izabella Lubowieckza, Senior Property Researcher at Zoopla, said: ‘Affordability remains a concern for many homebuyers so it is positive to see that there are areas of the UK where the affordability of housing has improved.’

Alongside Cumnock, the other affordable Ayrshire towns for prospective home buyers were Girvan, Saltcoats and Ardossan.

In August, Saltcoats was named by GetAgency as the cheapest spot to buy a UK coastal home, with the Scottish seaside town 14 times less expensive than the popular hotspot of Sandbanks, dubbed ‘Britain’s Palm Beach’ after the pricey Florida destination.

The average property in the Ayrshire town sells for £80,000, a third of the national average

King Charles Dumfries House is close to the town of Cumnock

Whilst Scotland is home to some of the UK’s cheapest properties, housing experts have increasingly warned that a significant number of people may still likely never be able to get onto the housing ladder amidst the rising costs of living.

Zoopla’s research found that an average property in Britain is currently valued at 3.8 times the average annual household income, with eight in ten British towns still considered to be worth four times the average income of a two-person household.

In September, it was announced that almost three-quarters-of-a-million pounds worth of funding would be granted by the Scottish Government to councils across Ayrshire to help reduce the number of families struggling to find permanent accommodation.

Speaking about the funding, provided under the Government’s Affordable Housing Supply Programme, Housing minister Paul McLennan said: ‘The delivery of affordable homes is the foundation of family life and is fundamental to how we achieve our priorities of eradicating child poverty and growing the economy.

‘The key to tackling homelessness and reducing the time spent by families in temporary accommodation is to deliver more affordable homes.’

David McDowall, Head of Economic Growth at East Ayrshire Council, said: ‘We’re happy to see that Zoopla is featuring Cumnock as Britain’s most affordable town. 

As a council we’ve invested heavily in recent years with help from working with Historic Environment Scotland’s Conservation Area Regeneration Scheme.

‘This has enabled the redevelopment of the town centre’s shopping area to help businesses and residents with the regeneration of many of the area’s beautiful historic buildings, breathing new life into the town’s conservation area.

‘Having affordable housing and new job opportunities in the area means families can settle and enjoy a good quality of life in a community which works hard together to make the best of every opportunity which comes along.’