There's no need to launch into a sulking state about how rising house prices are providing a barrier to the younger generation getting on the property ladder, we all know how tough it is.

But, deep in The Valleys of south Wales is a town where you don't really need much money at all.

Located 20 miles from Cardiff, and 40 miles from Swansea, in the heart of the mining communities, lies Ferndale (or in Welsh, that's Glynrhedynog).

Credit: Google Maps

Here, would-be homeowners would only need to earn £4-per-hour ($5.18) to buy a house.

The minimum wage for a 25-year-old is £7.50 ($9.71), and even those under 18 and in employment should earn at least £4.05 ($5.24), according to government guidelines.

Researchers looked at the average cost of houses in each of Britain's 2,650 postcodes and also took into account a 20 percent deposit plus a 2.63 percent interest rate.

They also used the average working week as 37.5-hours and mortgage repayments being 35 percent of the income.

Credit: Google Maps

Independent Ferndale councillor Phil Howe said: "I can't believe that Ferndale is now the most affordable area to buy a house.

"A person only needs to earn £4.03 ($5.22) per hour. What does this say about poverty levels?"

One landlord, Coun Howe, added: "At the moment, we have a lot of houses for sale in the Ferndale area, many more than I can ever remember as it was a much sought-after area to live.

"A factor we need to look at it is employment.

"Too many people, not just in Ferndale, but in many places, are on zero-hour contracts and minimum wage. You can't buy a house on zero-hour contracts, thus putting property out of reach of local residents."

Right now, on Rightmove, there is a two-bedroom terraced house on the market for £62,995 ($81,542).

Credit: Rightmove

It's described as being in an 'excellent location' with schools and transport links nearby, and boasts a fitted kitchen and breakfast room.

Even on a mortgage calculator, with a 10 percent deposit, with a 3.9 percent interest rate, the monthly repayments calculate at only £297 ($384.45).

On the flip side, Virginia Water in Surrey, South East England, topped the charts. Here, a person would have to earn £84.84 ($109.82) per hour to be able to buy a property.

Featured Image Credit: PA

Michael Minay

Mike Minay is a trending journalist at LADbible. He’s co-ordinated interviews with some of the big names from the world of news and sport including ITV’s Robert Peston, Sky Sports’ Jeff Stelling and darts champion Michael van Gerwen. His reporting days began on University radio in Birmingham, before moving to BBC Sport Online – creating content for large events such as Wimbledon and the FA Cup final. Mike still commentates on Football League matches at the weekend. A Manchester LAD at heart.

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