NEW data shows that Winchester is the fourth most expensive city to get on the property ladder.

The data comes from estate agents Rightmove, which examined the average asking price for properties in 50 English cities.

The data assumed that first-time buyers would have a 25 per cent deposit and that they would be taking out a five-year mortgage.

Winchester was the fourth most expensive city in the UK to buy a first home, with average prices coming to approximately £344,638 with a typical monthly mortgage of £1,278 (assuming a 35-year mortgage term).

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This puts Winchester behind London (£501,934), St Albans (£391,964) and Cambridge (£361,429).

The data also shows that Winchester is the seventh most expensive city to rent in, with an average advertised rent of £1,332 per month.

Rightmove’s property expert Tim Bannister said: “These latest figures highlight why so many people remain determined to get onto the ladder, as the soaring costs of renting has meant buying has remained attractive even with higher mortgage rates.

“Longer mortgage terms are becoming more common as a way to improve overall affordability and reduce monthly payments, though first-time buyers should be aware of what they are paying in interest compared with their actual mortgage.”

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Here are the 10 most expensive cities to get on the property ladder according to Rightmove, with the average asking price and the typical monthly mortgage payment, assuming a 35-year mortgage term:

  1. London, £501,934, £1,862
  2. St Albans, £391,964, £1,454
  3. Cambridge, £361,429, £1,341
  4. Winchester, £344,638, £1,278
  5. Oxford, £338,085, £1,254
  6. Brighton, £335,402, £1,244
  7. Bristol, £280,112, £1,039
  8. Chelmsford, £262,522, £974
  9. York, £244,834, £908
  10. Edinburgh, £239,028, £946

Here are the most expensive cities to rent, according to Rightmove, with the average advertised rent per month:

  1. London, £2,264
  2. Oxford, £1,561
  3. Cambridge, £1,533
  4. St Albans, £1,509
  5. Brighton, £1,468
  6. Bristol, £1,336
  7. Winchester, £1,332
  8. Edinburgh, £1,310
  9. Chelmsford, £1,300
  10. Milton Keynes, £1,239