An interactive map using data about earnings reveals the most affordable boroughs to buy a home in London.

The east London borough of Tower Hamlets takes the top spot, where the median-priced home of £455,200 costs just 4.91 times the average salary of households.

It is followed by Greenwich and Croydon, both south of the river, where the median home value is £451,900 and £430,100 respectively, both 5.26 times the average household salary.

While the average home value is cheaper in Croydon compared to Tower Hamlets, affordability was calculated based on house price to household earnings ratio.

Those who live in Croydon were found to have earned less relative to the value of the homes.

Household income was calculated based on the average earnings of two full time workers, in the data provided by Zoopla.

Southwark follows in fourth place with the median property price, just shy of £500,000, sitting at 5.36 times the average household income.

Lambeth takes the last spot in the top five with the median home costing £525,900, 5.39 times the average income.

On the other end of the scale, Kensington and Chelsea was dubbed the least affordable borough to buy a home.

While the estimated annual household income was found to be £106,000, the median home value was £1,007,200, 9.5 times household earnings.

Richmond upon Thames was the second least affordable, followed by Harrow and Waltham Forest.

Camden in north London was the fifth least affordable borough, with home values averaging at £723,600.

Affordable housing has been a major talking point for Londoners, with a shortage of homes and a stagnation of new home construction.

The new analysis said London remains the least affordable region, with homes valued at 6.11 times the average household earnings.

In comparison, homes in the north east of England were valued at 2.64 times local household earnings.

In Britain’s most affordable town, Shildon, homes cost just 1.15 times the annual household earnings.

It comes as the Bank of England increases interest rates to 4%, meaning hundreds of thousands of homeowners are set to face an immediate hike in mortgage bills.

The increase could equate to an extra £600 over the course of a year.

This could have the potential to shrink the housing market as demand for housing stagnates and Londoners turn to renting over buying.

Richard Donnell, Executive Director at Zoopla, said: “House prices have been rising more slowly than incomes, helping to improve housing affordability, but higher mortgage rates continue to offset some of these gains by increasing the monthly cost of buying a home.

"Affordability varies widely across the country, with many towns in northern England and Scotland offering much better value relative to local household earnings. However, lower house prices don't always mean it's easier to buy, as access to employment, deposits and mortgage costs remain important considerations.

"Buyers have more homes to choose from than a year ago, and there is greater scope to negotiate on price, particularly in southern England. Anyone considering a move should take a fresh look at what they can afford and what's available locally. Expanding a search to neighbouring towns could make a meaningful difference to their buying options.”