Inverclyde in Scotland is the most affordable place to buy a home in Great Britain, while house prices in Westminster far outstrip workers’ wages in central London, a study has found. Falling house prices and strong wage growth have combined to make buying a home in more affordable over the past year, albeit constrained by rising interest rates, according to the UK’s biggest mortgage lender. At its peak in June 2022, the cost of a typical UK home was £293,586, while the average annual earnings of a full-time worker were £40,196. According to Halifax, this put the house price to income ratio at 7.3, the highest – or least affordable – level ever recorded. However, a year on, average house prices have fallen to £286,276 while wages have risen about 7% to £43,090, allowing the house price to income ratio to fall to 6.7, Halifax found. The lender compiled national and regional figures for the whole UK but broke down affordability by area using local authorities in Great Britain because of sample size for the …