Property market fluctuations in the past couple of years mean it can be hard to know which property locations are within your price range, where has become affordable, and where is out of reach. To highlight and compare the range of potential price tags attached to property across the UK, the UK’s leading price comparison site, MoneySuperMarket, has created an interactive tool to reveal and explore the cheapest locations to buy a property across the UK.
The tool lets you explore the most and least expensive streets to buy a home across the UK, detailing deposit information, the average cost of a home revealing that the North East may be the ideal location for those looking to climb the property ladder.
While England’s capital proves to be home to the most expensive streets in the UK, with prices significantly higher than anywhere else in the country, the North proves to be a significantly more viable option for first time buyers, with some streets in Sunderland boasting homes at just £15,000. In comparison, the most expensive in the UK is Grafton Street, in Westminster – with average property prices sitting at £69,189,235, it’s 30,788 per cent more than the national median of £224,0001.
The most affordable UK streets
For those looking to make an affordable move, the North East’s own County Durham features as 10 of the top 20 most affordable streets. However, the cheapest overall options are in Sunderland, Liverpool, or Lancashire1:
- Davison Terrace, Sunderland, Sunderland, Tyne And Wear – £15,000 – 91 per cent less than the regional average
- Imrie Street, Liverpool, Liverpool, Merseyside – £15,000 – 88 per cent less than than the regional average
- Hurtley Street, Burnley, Burnley, Lancashire – £15,500 – 91 per cent less than than the regional average
- Kingsland Grove, Burnley, Burnley, Lancashire – £16,000 – 90 per cent less than than the regional average
- Thornley Road, Durham, County Durham, County Durham – £17,000 – 86 per cent less than than the regional average
Sally Francis-Miles, money spokesperson at MoneySuperMarket commented: “Property is a market that varies a considerable amount – from the millions needed to afford a high-end London location, to the more economical streets of County Durham or Blaenau Gwent. Since the financial crisis of 2008 property prices have been rising steadily – but that could always change in the future, particularly with Brexit making investments uncertain.
“Regardless of whether you’re buying a first property or making an investment, it’s always smart to get a full view of the potential costs, and property hotspots, before making a purchase – particularly if you’re buying in a volatile market like London. Be sure to shop around for the best mortgage rates.”
For more information, visit MoneySuperMarket to see the full study around the most and least expensive streets and regions in the UK, and use the data explorer tool to see the locations visualised throughout the country.