Research from Nationwide Building Society has highlighted significant disparities in housing costs across Britain, with Oxford emerging as one of the most expensive locations for those seeking to purchase their first property.

The study ranked Oxford alongside Cambridge, York, and Cardiff as areas presenting considerable obstacles for prospective homeowners.

At the opposite end of the scale, Inverclyde in Scotland topped the list as Britain’s most attainable location for first-time purchasers, with typical property values standing at just 2.3 times the local average income.

Nationwide’s senior economist Andrew Harvey observed that Inverclyde represents the most affordable local authority in the country, with first-time buyer property values equivalent to 2.3 times regional average earnings.

The research assessed housing accessibility by examining how average prices for first-time buyer properties related to typical wages in each area.

The London district of Kensington and Chelsea recorded the poorest affordability levels, where residential values reached 13.9 times local earnings.

Conversely, Burnley and Hartlepool featured among the most accessible markets, with house prices falling just short of three times the standard local salary.

In roughly one in ten local authority zones across the UK, a ten percent deposit on a first-time buyer property amounts to fifteen thousand pounds or below.

Yet in close to fifty percent of all regions, a typical deposit requirement sits between fifteen thousand and twenty-five thousand pounds.

Harvey noted that around seventy percent of local authorities experienced improved housing affordability during the previous twelve months.

Nationwide’s assessment incorporated typical first-time buyer property values alongside wage data for the standard adult in full-time employment.

Recent weeks have seen mortgage interest rates increase, creating additional obstacles for those attempting to enter the property market or already repaying home loans.