UK homebuyers can expect to pay 3.8 times average annual household incomes, Zoopla reveals, despite annual earnings growing by 3.7% over the last 12 months.

The latest data shows that the 35% of homebuyers who are single, will expect to pay 7.6 times their annual income on average.

Looking at the most affordable locations, Zoopla found that the average home in the four most affordable parts of Ayrshire valued at less than 1.3 times the annual household income.

Four out of five of Britain’s most affordable towns, Cumnock, Girvan, Saltcoats and Ardrossan, are located in this area.

Cumnock is Britain’s most affordable town to buy, with average property values of £80,300, significantly below the UK average house price of £267,500.

Shildon, Peterlee (both in county Durham) and Ashington (Northumberland) are the most affordable towns for buyers in England, with homes valued at less than 1.4 times local household incomes.

Over the last 12 months, house prices fell by two-thirds in southern England (excluding London), with the largest improvements in affordability in the South East, South West and East of England.

Wisbech in Cambridgeshire, Dover (Kent) and Great Yarmouth (Norfolk) are the most affordable places to buy in the south of England with affordability ratios in these areas ranging between 3 and 3.2.

However, in southern England eight in ten towns are typically valued at more than four times the annual household income.

In London, Croydon has the lowest house value-to-earnings ratio of 4.7, well below the London average of 5.8.

Greenwich, Barking and Dagenham, also see average homes valued at less than five times the local annual household income.

The most affordable towns within a one-hour commuting distance to London terminals are Chatham (3.7), Southend (3.9) and Basingstoke (3.9).

Zoopla senior property researcher Izabella Lubowiecka says: “Affordability remains a concern for many homebuyers so it is positive to see that there are areas of the UK, such as Southern England, where the affordability of housing has improved.

“London remains the least affordable area for home buyers. Those in London looking to get more for their money may want to consider buying in one of the South East and East of England’s commuter belt, where there are many towns that are more affordable than London. The same is true in markets around many regional cities and we see buyers seeking value for money. ”

Propertymark NAEA president Toby Leek adds: “Affordability for many is a real issue and as purse strings remain tightened despite easing factors such as slight drops in inflation, prospective and current homeowners will be looking to enter the market with caution, but also in some cases, further flexibility in where they nest themselves.”

“As many people no longer have the restriction of basing themselves from a static office full time, they are able to look elsewhere to actually step onto the housing ladder for the first time or find their next, more affordable dream home.”