Property 'more affordable in the north'
Residential lettings agents believe it is more affordable to purchase property in the north of England than in the south.
The National Association of Estate Agents (NAEA) said that first-time buyers find it easier to purchase a home in northern parts of the country because of lower prices.
According to Richard Horner, a sector regional executive at the organisation, fears about employment and job security tend to hold property buyers back in north England.
"[But] if a first-time buyer is looking for an opportunity to get on the property ladder and they are able to move jobs and secure a job [elsewhere] then they will have a far better chance of being able to afford a property in the north than they will in the south," he insisted.
The NAEA representative's comments come after a report from the Council of Mortgage Lenders suggested that there has been an eight per cent increase in lending to first-time buyers between March and June.
Around 14,700 loans, worth a total of £1.7 billion, were approved for those looking to get on to the property ladder earlier this month.
"[In the north] the cost of living is cheaper, the cost of renting office accommodation is cheaper, and the cost of buying office accommodation is cheaper," Mr Horner added.
"As a consequence we have got fantastic towns and cities within the northern area that would welcome a migration from the south to the north, and for [people] to enjoy the benefits of not only the towns and cities but also the splendid countryside that we have got surrounding us."
Earlier this month, a report from Zoopla.co.uk indicated that the cheapest places to live in the country are in the north, north-west and north-east parts of England.
The website's 2011 Property Rich List revealed that Liverpool, Hull and Sunderland offer buyers the best value for money.
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