Oakham names as one of the least affordable places to live in England

Oakham appears on a list of the least affordable places to live in England.

Research from digital wealth manager Nutmeg looked at property prices based on the number of years it would take to save for a 10 per cent deposit using a Lifetime ISA.

It found home ownership is an average of 4.8 years away for aspiring home-owners.

In Oakham it takes an average of 6.4 years, placing it 10th on the list behind the likes of London, Cambridge, Oxford, Brighton and Bath.

Lisa Caplan, head of financial advice at Nutmeg, said: “Many people dream of owning their first home and we know that a house is the top investment goal for Nutmeg customers, but it can seem unachievable.

"However, by putting some money away each month and making the most of a government top-up available through a Lifetime ISA, your aspirations for home ownership might be closer than you think.”

Hereford, St Ives and Luton equal the overall average, where an individual first-time buyer will take 4.8 years to put away enough money for a 10 per cent deposit.

Some of the more affordable cities include Leicester, Manchester and Sheffield, where it takes an average of 3.5 years.