Due to fluctuations in the property market during the past couple of years it can be hard to know which property locations are within your price range.
MoneySuperMarket has created an interactive tool to reveal and virtually explore the cheapest locations to buy a property across the UK.
The cheapest streets in London
The UK’s capital is perhaps unsurprisingly home to the most expensive streets, with prices significantly higher than anywhere else in the country. The most expensive is Grafton Street in Westminster at £69,189,235, which is 30,788 per cent more than the national median of £224,000.
|
Cheapest locations in London |
Cheapest street |
Average property price in London |
% difference |
|
1. Railway Approach, Harrow, Greater London |
£103,500 |
£624,072 |
-83 |
|
2. Abbey Close, Hayes, Hillingdon, Greater London |
£103,954 |
£624,072 |
-83 |
|
3. Armada Way, London, Newham, Greater London |
£114,743 |
£624,072 |
-82 |
|
4. Aitken Close, Ruislip, Hillingdon, Greater London |
£120,000 |
£624,072 |
-81 |
|
5. Arthur Street, Erith, Bexley, Greater London |
£125,775 |
£624,072 |
-80 |
The most affordable UK streets
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:
|
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 mortgage, 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.”
