Phil Spencer shares the 'cheapest' places to buy a house in the UK right now

Phil Spencer shares the ‘least expensive’ locations to purchase a home within the UK proper now

Regardless of home costs reportedly anticipated to fall throughout the UK over the following two years, the common UK property is valued at £294,559, based on the Workplace for Nationwide Statistics (ONS). For a lot of, the rising price of residing and rates of interest implies that the prospect of proudly owning a house is diminishing. Chatting with Transfer iQ, Phil Spencer has shared the ten least expensive locations to purchase a home within the UK.

Phil mentioned: “Clearly the north results in greater financial savings in comparison with the south east of England. Let’s break down the most affordable areas to purchase a home and their postcodes.”

So the place is the most affordable place to purchase a home? Listed here are the most affordable locations to purchase houses on the market within the UK, by postcode and common property costs:

1. Middlesbrough, North Yorkshire, £54,978

Located on the south financial institution of the River Tees, in Middlesbrough, you might be by no means greater than 20 minutes from the coast, countryside or city centre. Phil mentioned: “It is also an ideal place to purchase a house with out breaking the financial institution.”

The place is the most affordable place to dwell within the UK in 2022? In Middlesbrough, claims high spot for affordability, with a median home worth of £54,978. TS1 is the Middlesbrough postcode. The TS3 postcode is one other that’s within the high 10 most inexpensive areas within the UK, with a median home worth of £80,958.

READ MORE: The place to purchase a house for underneath £250k and pay no stamp obligation

2. Bradford, West Yorkshire, £58,673

Within the BD1 postcode, home hunters should buy a property for lower than £60,000. Bradford is located on the foot of the gorgeous Pennines, common with first-time consumers, renters and people trying to climb the property ladder.

The property guru identified: “For those who love interval houses, you are in luck, as Bradford is essentially made up of Victorian buildings.”

3. Sunderland, Tyne and Put on, 65,478

Sunderland is house to a surprising shoreline and a vibrant metropolis middle – relying on which aspect of the River Put on you are on. The SR1 postcode claims third place on this checklist, the place shopping for a property will set you again round £65,478.

Phil commented: “Inexperienced out of doors house is now a key criterion for the perfect locations to purchase a home, so Sunderland has loads to boast about!”

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4. Grimsby, North East Lincolnshire, £71,105

Grimsby options twice within the ‘least expensive locations’ countdown, with the common home worth within the DN31 postcode coming in at £71,105. In the meantime, only a stone’s throw away, property costs within the DN32 postcode are round £97,652.

This port city additionally has appeal and heritage, with a wealthy fishing and trawling historical past simply ready to be found.

5. Shildon, County Durham, £73,637

The DL4 postcode in Shildon is “some of the inexpensive locations to purchase a property within the UK”, based on the property guru.

Town can be ultimate for many who need to dwell in a quieter place – however nonetheless with quick access to town. It truly is the perfect of each worlds, house to a variety of pleasant locals.

READ MORE: Free Ladies’s Gloria Hunniford’s quiet life within the royal metropolis of Kent

6. Peterlee, County Durham, £85,274

Do you need to save for a housing deposit? It will likely be a lot simpler in some components of the UK than others, and Peterlee is not any exception; particularly SR8 postcodes. Peterlee can be affectionately often known as ‘Mexico Metropolis’ by locals, resulting from its structure.

7. Stanley, County Durham, £91,391

Stanley can be in County Durham, the place the common asking worth is lower than £100,000. A brief drive from each Newcastle and Durham, this former coal mining city is common with singles, households and {couples}.

8. Lancashire, North West England, £91,516

Are you in search of an affordable rural location? Lancashire’s BB11 postcode is one other inexpensive UK housing hotspot.

Lancashire is a lovely place common with vacationers and locals, constructed on medieval and industrial heritage. Being near Manchester, Leeds and Liverpool, it is usually location for commuters.

9. Liverpool, Merseyside, £91,793

Each the L20 and L5 Liverpool postcodes are on this checklist, displaying that Liverpool is thought for greater than its soccer membership and is the birthplace of the Beatles. This can be very culturally numerous and affords one thing for everybody, whether or not you might be there to dwell, work or play.

Phil argued: “Regardless that property on this metropolis is very wanted, you may nonetheless discover many houses nicely under the UK common worth.”

10. Keighley, West Yorkshire, 91,833

At simply over £90,000, the common home worth in Keighley’s postcode BD21 is a good place for first-time and second-time consumers alike.

This Yorkshire city within the metropolis of Bradford is house to a lovingly restored steam railway and boasts scenes of extremely charming countryside.

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