Price and neighborhood are very important to homebuyers. Property costs vary in the UK depending on where one wants to buy real estate. Despite a distinct thirst for the country lifestyle, there is an undeniable demand for city-center living. While there are cities with high costs of living, the United Kingdom is also home to cities with affordable living conditions and inexpensive houses.
Even though UK housing prices have been rising, there are still inexpensive rent and home options. Consider Hamilton or Middlesbrough, where housing is cheaper than elsewhere in the country but rich in history and nature. Despite rising UK housing costs, there are diverse options for affordable properties in the United Kingdom. With the assistance of platforms like Rentola, you can navigate the housing market with ease, finding the perfect place to call home. This article will provide a rundown of UK regions with the lowest average property prices.
Where Should I Buy My First House in the UK?
As living costs rise and many struggle to buy a home, there are the cities to consider moving to. There’s something for everyone in the UK, so property hunting is excellent. Below are places to buy your first home:
1. Peterlee, County Durham
Peterlee, a former mining town in the eastern portion of the county, is today a dynamic community with several low-cost housing possibilities. This neighborhood is great for first-time buyers and young families. This is because it has abundant amenities and features convenient access to all major routes of transportation leading to London. The typical cost of a home in this area, with an SR8 postcode, comes in at approximately £85,274. In addition to having relatively low house costs, Peterlee is sometimes referred to as Mexico City by its residents. This is because of the colorful architecture that can be found there.
The average property price in this location is £54,978. One of the cheapest UK homes is in this location. Middlesbrough, on the Tees, is 20 minutes from the coast, depending on whether you start in the city or the rural area. Not only is Middlesbrough’s postcode TS1 the cheapest spot to buy a home in the UK, but the nearby TS3 is equally affordable at £80,958.
3. Egremont, Copeland
Egremont is a delightfully quaint little market town in the western part of Copeland, on the outskirts of the breathtaking Lake District National Park. This region is a good alternative for anyone looking to purchase a home at a reasonable price due to the abundance of affordable alternatives to housing and the stunning natural landscapes. If you’re on a fitness journey you can buy homes in this location that further gives you space to engage in your journey. There is plenty for everyone to enjoy in Egremont, whether you’re a young professional needing convenient access to the city center or a family searching for opportunities for outdoor enjoyment amidst breathtaking surroundings.
4. Grimsby, North East Lincolnshire
Grimsby is also one of the cheapest towns in the United Kingdom. The average price of a home in the DN31 postcode is £71,105. In the meantime, real estate in the area with the DN32 postcode may be purchased for approximately £97,652 per square foot. This fishing harbor also has a long history of trawlermen and fishermen, which is just waiting to be uncovered, giving it a lot of character and tradition.
England’s finest deals on products and services are in this coastal and port town in County Durham. The average Hartlepool home price rose 5.1% to £110,800 in January 2023. Although the city dates back to the seventh century and is home to Camerons Brewery, one of the UK’s largest breweries. Homebuyers looking out for inexpensive houses in the UK, will find a good choice in Hartlepool.
6. Shildon, County Durham.
Shildon, County Durham, is the finest place in the UK to buy an inexpensive property. This is the ideal time to buy a UK house. Most County Durham areas are the cheapest in the UK to buy a home. In 2023, the average English household should pay four times their annual salary on a home, but in Shildon, they should spend 1.1 times. Due to the high proportion of terraced housing in Shildon, the average home price is under £71,000. This is an excellent deal compared to England’s prices, which might be four times annual income. Buyers who desire a tranquil lifestyle but yet want to be near Middlesbrough may find Shildon a wonderful place to buy a house. Middlesbrough is less than an hour from Shildon by vehicle.
7. Cleator Moor, Copeland
Cleator Moor is a tiny market town located in the western part of the county. It is an excellent location for people who are searching for a house at a much lesser cost. This location is ideal for anyone who wants to buy a property without going into severe debt because it has stunning natural landscapes that have not been altered. It is conveniently located near all main transit links to London, including rail lines.
Liverpool is famed for its unique culture and history. The current statistics shows that this area’s average home price is £91,793. Despite the hot real estate market in some parts of the city, you can still locate properties cheaper than the national average if you look hard and long enough. First-time buyers looking for affordable communities can consider buying a new home in Liverpool.
9. Keighley, West Yorkshire
The current value of a home in the BD21 postcode in Keighley, West Yorkshire, is £91,833, which makes the neighborhood an extremely appealing option for individuals looking to purchase their first property. The City of Bradford, where Keighley is located, is a charming place to visit thanks to its proximity to the English countryside and historically significant steam railway. Keighley is an attractive option for purchasers because it is beautiful and reasonably priced.
Londonderry is located on Ireland’s North Coast, where the Causeway Coastal Route and the Wild Atlantic Way intersect. Breathtaking views of the surrounding landscape surround the city. Its medieval walls have stood for over 400 years, attesting to the city’s rich historical legacy. Nevertheless, it offers a wealth of assets and benefits associated with modern cities. There is a solid international dining scene here, and the culture of local cafes continually evolves for the better. The residents of Londonderry are renowned for their friendliness and wit, which contributes to the city’s reputation.
11. Bradford, West Yorkshire
Homes available for purchase in the BD1 area cost less than £60,000. Bradford is popular with first-time buyers, renters, and those moving up the property ladder due to its location in the Pennines’ rolling foothills. Most Bradford buildings are Victorian, which is great if you like old architecture.
Considerations Before Buying a UK House
Multiple considerations must be taken into account when buying a UK home. Below are aspects to consider when buying a United Kingdom home:
1. Size of Property
Room size is a major factor when buying a home. If you want to add on or build an outside space, your home’s size can affect how you use it and its potential. When looking at different homes, check the property’s size and imagine how you, your partner, and your family will utilize each space if you have to change the layout. The length and configuration of your garden or driveway should also consider the level of privacy you desire.
2. Age of Home
The age of the home that you are considering purchasing is a factor that can make or break your decision to acquire it. Older homes have a more beautiful appeal; nevertheless, they might need more fabulous upkeep work in the long term. If you are ready to invest the time and expense into remodeling the home, consider purchasing an older home. This may not be important to your search if you are solely interested in purchasing a recently constructed home. Notwithstanding, this does not imply that you should ignore the state of any property you will be viewing.
3. Strategic Positioning
Location is a major factor when buying a home. The property’s value and future resale ability depend largely on location. You should prioritize finding a home near schools, hospitals, retail centers, etc. This will make reaching these facilities from home easier. In addition, think about the neighborhood and how secure it is before you make any decisions regarding the deal.
4. Discover Property Value
Find out how much the property is worth on the market. Understanding how much a current property is worth is a good idea. Homebuyers can find this information online or through homeowners. They should also know how real estate market movements may affect their decision-making. They must also consider property taxes, insurance, maintenance, and other home-buying costs.
New investments and the pressures of the market are constantly shifting the housing markets in the UK, which results in fluctuating inexpensive places to live rankings. After reading this list, home buyers will better understand options for cheaper and more affordable regions that may be found all over the United Kingdom.