Property bargain: Places where property prices are below the national average
Looking for a property bargain? well if you’re hoping to get on the property ladder, but have found that the average house price in your area are just too high, it may be worth considering moving further afield for an affordable home that will make your budget stretch that much further.
With the average UK property price currently standing at £256,000, many first-time buyers are being priced out of the market and are having to rent rather than own their own homes.
As many people now work remotely or are willing to commute to work, buying a property in an area where house prices are lower than the national average is a great way to bag a bargain. The good news is that despite that average price tag, there are places where desirable properties do hit the market below that threshold. If you’re ready to cast your net a little wider, or are intrigued at the prospect of snapping up a bargain first home, here are a few property hotspots around the UK where your budget will get you more than you might think.
Middlesbrough (TS1), North Yorkshire
Topping the cheap property list for 2021 is Middlesbrough with an average house price of just under £55,000 – that’s a fifth of the national average!
With good commuter links, you’re never more than 20 minutes away from the town, sea or countryside, so it’s a great place to pick up a property bargain if your budget is limited but you’re keen to buy.
Lancashire (BB1), North West England
If you’re dreaming of escaping to the countryside but rural property prices are creating a big barrier, consider turning your property search towards Lancashire.
With an average price of £91,516, this area is popular with locals and tourists alike, thanks to beautiful landscapes and rich industrial heritage. There is good news for those hoping to climb the career ladder too as Lancashire has seen significant investment by large companies in recent years, so there are some great job opportunities to be found.
Sunderland (SR1), Tyne and Wear
With the cost of an average home in Sunderland setting you back just £65,478, getting started on the property ladder won’t seem like such a challenge in this northern gem.
An area with a buzzing city centre filled with cultural diversity, the stunning coastline is also just a short drive away, giving you the best of both worlds.
Birkenhead (CH41), Liverpool
Another location well worth a mention is Birkenhead in Liverpool, Just a stone’s throw from the idyllic Cheshire countryside and The Wirral (an area many Premiership footballers call home). The cost of an average property in Birkenhead comes in at just over £100,000, making it easier for first-time buyers and solo owners to afford the mortgage repayments.
If you’ve been tempted to buy a home in one of these areas, we can help with trusted mortgage advice. Contact us now to speak to one of our mortgage experts.