Let’s start by stating that 2022 was not an easy year for the majority of people. Property investors were among the happiest people in the world, even though this past year was full of uncertainty and concern. According to statistics made public during the year, property prices and rental yields in the UK increased steadily. The average asking price increased by 9.8% in the UK during the year.
The extent to which the rental market has shifted should also be noted. That represents a 7.5% increase in rent across the nation. The key point to keep in mind is that even during extremely difficult economic times, the UK’s real estate market still stands out as one of the best places to invest. Let’s address the vexing question of where in the UK is the best spot to buy a house at this point.
Read More About: Understand Your Tenancy Rights
- North Yorkshire’s Middlesbrough, $54,978
- West Yorkshire, Bradford, £58,673
- Sunderland, Tyne & Wear, £65,478
- Grimsby, NE Lincolnshire, £71,105
- Shildon, County Durham, £73,637
- Peterlee, County Durham, £85,274
- County Durham, Stanley, £91,391
- Lancashire, England’s North West, $91,516
- Liverpool, Merseyside, £91,793
- Keighley, West Yorkshire, £91,833
North Yorkshire’s Middlesbrough, $54,978
You are never more than 20 minutes from the seaside, the countryside, or the town center in Middlesbrough, which is located on the south bank of the River Tees. Additionally, it’s a terrific place to live without going bankrupt when buying a home. The most affordable place to live in Middlesbrough is the TS1 postcode, where property costs an average of £54,978. The TS3 postcode is another one of the top 10 most inexpensive areas in the UK, with an average property price of £80,958.
West Yorkshire, Bradford, £58,673
In the BD1 area code, houses go for less than £60,000. Near Bradford, there are the stunning Pennines. It is a well-liked location for first-time purchasers, renters, and individuals looking to advance in their real estate careers. Since the majority of the houses in Bradford were constructed during the Victorian era, you’re in luck if you enjoy historic houses.
Sunderland, Tyne & Wear, £65,478
Depending on which side of the River Wear you are on, Sunderland has both a picturesque seaside and a bustling city core. The third postcode on this list is SR1. In the SR1 neighborhood, you’ll need around £65,478 to purchase a property. Sunderland has a lot to be proud of because outdoor green space is now a significant factor in determining where to buy a home.
Grimsby, NE Lincolnshire, £71,105
With an average house price of £71,105 in the DN31 postcode, Grimsby appears twice in our list of the cheapest locations. Just a short distance away, properties in the DN32 postcode cost about £97,652. With a long history of fishing and available trawlermen, this port town is also lovely and ancient.
Shildon, County Durham, £73,637
The DL4 postcode in Shildon is one of the cheapest in the UK to purchase a home. The town is also perfect for those looking for a tranquil setting close to the city. It boasts a lot of amiable residents and the finest of both worlds.
Read More About: A Renter’s Guide: Recommendations For Tenants
Peterlee, County Durham, £85,274
In some areas of the UK, it will be considerably simpler than in others. One of them is Peterlee, or more specifically, the SR8 postcode. Because of its appearance, Peterlee is affectionately referred to as “Mexico City” by locals.
County Durham, Stanley, £91,391
County Durham also includes Stanley. There, homes are typically listed for less than $100,000. Due to its proximity to Newcastle and Durham, this old coal mining town attracts many singles, families, and couples.
Read More About: 15 Inquiries To Make During A Rental Inspection
Lancashire, England’s North West, $91,516
Another reasonably priced area to reside in the UK is the BB11 postcode in Lancashire. Beautiful Lancashire is well-liked by both inhabitants and visitors. Both the Industrial Revolution and the Middle Ages played major roles in its history. Because it is close to Manchester, Leeds, and Liverpool, it is also a good location for commuters.
Liverpool, Merseyside, £91,793
The Liverpool postcodes L20 and L5 are both included in this list. This demonstrates that Liverpool is well-known for the Beatles’ birthplace and more than just its football team. Everyone can find something they like because there are so many various types of people living, working, and playing there. Even though housing in this town is in high demand, many of the available units may still be found for far less than the national average in the UK.
Keighley, West Yorkshire, £91,833
The BD21 postcode in Keighley has a median property price of slightly over £90,000. Both experienced and first-time purchasers might choose this location. This community is located in the county of Yorkshire, in the city of Bradford. It features a steam railway that has been painstakingly restored and lovely countryside views.
Read More About: How To Handle Rising Costs (Financing & Home)
There are further items to note.
Some of the other property prices on this list are still rather good even though they didn’t make the top 10. Wirral’s Birkenhead nearly made the list. It has a park that has gained notoriety and served as a template for numerous other parks around the nation. Seaton Carew is still far more affordable than other areas in the UK, even at number 20. Just over £100,000 can get you a house, which is a lot less than other places. Repaying a loan here will be a lot simpler, especially for single purchasers, than in London, where the average home price is £516,285.
