The most affordable areas to live in the UK in 2022
Despite what you may see and hear on the news, there are many areas across the UK where buying a home is affordable – and that includes London.
Despite what you may see and hear on the news, there are many areas across the UK where buying a home is affordable – and that includes London. The property market has been hit by the high rates of inflation we are currently experiencing as a nation and house prices have grown at double the rate of average wages between January 2021 and January 2022. Having said all this, currently a home can be snapped up for well under £100,000 in certain parts of the UK.
Here, we run you through the top 10 most affordable areas to live in the UK in 2022.
London:
Buying a house in London is undoubtedly an expensive undertaking. However, look a little further out and things do start to get more affordable. And with the recent arrival of the Elizabeth Line, outer London boroughs such as Barking & Dagenham, Havering and Bexley suddenly find themselves within half an hour of the centre of the capital. Barking & Dagenham, in fact, tops the ‘most affordable boroughs in London’ list, with an average property value of £336,900.
East of England:
Unsurprisingly, homes get much more affordable the further east you go from London. Essex and Hertfordshire, popular with capital commuters, boast house prices well above the UK’s March 2022 average of £278,000. However, head across into Norfolk and prices start to come down considerably, where average house prices currently sit at around £295,000. Endless, unspoilt coastline, beautiful old villages and towns and decent transport links to other parts of the country make Norfolk an attractive option when it comes to buying in the East of England.
Midlands:
A home in Brierley Hill in Dudley can be yours for £194,200 on average, well below the UK average and putting you within touching distance of the nation’s second city. A charming three-bed semi here was sold recently for £200,000, making the area a desirable option for families looking for a little more space, for less.
North East:
Shildon in County Durham once again retains the top spot on the list of most affordable areas to live in the UK for 2022. A three-bed terraced property was recently on the market here for as little as £55,000 and average prices aren’t much higher, at £71,000. Shildon is just 13 miles outside of Durham, within easy reach of Middlesbrough, Newcastle and the stunning beauty of the Yorkshire Dales.
North West:
Parts of Cumbria such as Copeland, and more specifically the towns of Cleator Moor, Millom and Egremont, represent some of the most affordable places to purchase a property in the UK, with averages in the area sitting at around £105,000 for 2022. Here, you are on the doorstep of some of the country’s most breathtaking natural scenery, with the fells and meres of the Lake District just a short drive away.
South East:
It’s no secret that the South East can be an expensive place in which to buy property. Take a good look around, however, and you’re sure to find some affordable gems. With an average price of £469,138, properties here are far cheaper than the London average of £712,707, yet within easy reach of the capital. If you’re looking to get away from the humdrum of the mainland, a quick hop across to the Isle of Wight reveals the region’s most affordable housing at £300,431 on average
South West:
If a quiet life by the sea is what you’re looking for then there are few places to do it more economically than in the South West. Dawlish in South Devon sees properties valued at £278,700 on average, easily commutable from nearby Exeter and on Dartmoor’s doorstep. Picture weekend walks along the South West Coast Path, chips in Torquay harbour and good train links to London as standard.
Wales:
Wales as a whole is an affordable place to live when compared with the rest of the UK and Mid Glamorgan takes the affordability top spot. House prices here average around £167,000 for 2022 and the region is within easy reach of the Welsh capital, Cardiff, not to mention the Brecon Beacons.
Scotland:
Ayrshire is the place to go for affordability in Scotland. Stevenson in North Ayrshire sees a £88,800 average house price and is under an hour’s drive from the bright lights of Glasgow. This is well below the Scottish average of over £300,000 for a detached property.
Inspired to make a move to somewhere a little more affordable? You’ll need to secure the services of a residential conveyancing solicitor to take care of the legal formalities of buying and selling property. Get in touch with us to find out how we can help take the stress and complications out of moving home.
Kindly shared by Homeward Legal
Main photo courtesy of Pixabay
