Sunderland and Liverpool Home to Britain’s Cheapest Streets with Properties at only £15,000
MoneySuperMarket research reveals cheapest streets to buy property, with Sunderland and Liverpool ranking the highest for it.
Property market fluctuations in the past couple of years mean it can be hard to know which property locations are within your price range. To highlight and compare the range of potential price tags attached to property across the UK, leading price comparison site MoneySuperMarket has created an interactive tool to reveal and virtually explore the cheapest locations to buy a property across the UK.
For those looking to get out of the capital, County Durham has 10 of the top 20 most affordable streets in the country. However, the cheapest overall options are in Sunderland, Liverpool, or Lancashire:
The most affordable UK streets
|Cheapest locations in the UK||Cheapest street||Average property price per region||% difference|
|1. Davison Terrace, Sunderland, Sunderland, Tyne And Wear||£15,000||£158,858||-91|
|2. Imrie Street, Liverpool, Liverpool, Merseyside||£15,000||£157,828||-88|
|3. Hurtley Street, Burnley, Burnley, Lancashire||£15,500||£165,923||-91|
|4. Kingsland Grove, Burnley, Burnley, Lancashire||£16,000||£165,923||-90|
|5. Thornley Road, Durham, County Durham||£17,000||£123,826||-86|
Sally Francis-Miles, money spokesperson at MoneySuperMarket, commented:
“Getting on the property ladder is an aspiration for many, but can seem like a pipe dream when you factor in how much you need to do it, especially in the UK’s most expensive areas.
“The property market has fluctuated in recent years, with escalating prices in some areas and decreases in others. Research also suggests that fewer people are taking out a mortgage3, possibly driven by the potential impact of Brexit on prices.
“However, whether you’re buying your first property or making an investment, the starting point is always reviewing all the potential costs, in addition to what you have saved, before looking at what you can afford to borrow. Then you can look at areas and types of property you can afford. Choosing a mortgage in itself can be daunting, but there are many tools to help you select the right option for you, whether that’s a fixed deal for two to five years giving you certainty of payments, or a tracker that rises and falls in line with the Bank of England base rate.”
For more information, visit MoneySuperMarket to see the full study and explore the interactive tool around the most and least expensive streets across different regions of the UK.
Kindly shared by MoneySuperMarket