First-time buyers in St Albans need more than five times their annual salary to get on the property ladder, new research has revealed.

Mortgage broker Mojo has placed the city 12th in a list of the country’s least affordable locations, thanks to an average house price of £611,025 and typical salary of £50,356 per year.

This means that a couple who had saved a 15 per cent deposit would have to borrow 5.16 times their salary to afford an average home.

The national average property price stands at less than half of St Albans', at £287,830.

Bath topped the 'most expensive' list, with residents earning an average salary of £29,940 needing to borrow 7.5 times their wage to purchase a £528,530 property.

The most affordable option was Hull, where just 2.3 times the average £29,193 salary was needed to afford a £158,228 home.

Richard Hayes, CEO and co-founder at Mojo, said: “First-time buyers could now borrow as much as seven times their salary – but this would be a big stretch for many couples who would struggle to buy a property in St Albans.

“Lack of affordable housing has repercussions, not only for the individuals involved but the wider economy and community if workers in lower-paid jobs are priced out of the market.

“Enabling people to borrow more might help them onto the property ladder but much will depend on their circumstances as lenders and brokers must apply strict affordability checks. It’s also important that buyers weigh up whether the location offers the best quality of life for them.”