About half the residents of a small UK city do not have a mortgage.

Welcome to Wells in Somerset, the smallest city in England and home to the oldest residential street in Europe. It's a charming cathedral city where 44.7% of homes have no mortgage, making it the top spot for outright home ownership in the UK. Surprisingly, London did not make the top 10 list, with other cities like Chichester and Lichfield taking second and third place.

So why do so many people in Wells own their homes outright? Is it because they pay off their mortgages faster or because they are an older population? Well, according to data from the Office for National Statistics, the majority of Wells' population falls between the ages of 18 and 64. And the average full-time worker earns around £440 per week, which may not seem like a lot. But it's not about earning more, it's about being slightly older and having more time to pay off mortgages.

But not everyone in Wells lives in one of the historic Grade I listed buildings on Vicars' Close, the oldest residential street in Europe. While those properties can fetch an average of £500,000, there are also detached, terraced, and semi-detached homes available for purchase at varying prices. And with its cobblestone streets and beautiful cathedral, it's no wonder Wells has caught the attention of Hollywood, serving as the setting for films like Hot Fuzz.

But it's not just the picturesque scenery that draws people to Wells. As local business owner Vicki Jones shares, the community is endlessly friendly and supportive. She and her family relocated from South London over 10 years ago to start their business and have found that everyone in Wells is welcoming and eager to support each other.

And it's not just the residents of Wells who appreciate the charm of this small city. It has been described as the "pearl of the South West of England" and has seen an increase in visitors from nearby bohemian towns like Glastonbury, Frome, and Shepton. With its diverse wildlife and beautiful landscapes, it's no wonder people are drawn to Wells.

So if you're looking for a place to settle down and call home, consider Wells in Somerset. Not only is it the oldest residential street in Europe, but it's also a friendly and welcoming community with a lot to offer.

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