The cheapest place to buy a house [ Infographic ]

If you’d love to get your foot on the property ladder but have a tight budget, you might be wondering “What’s the cheapest place to buy a house?”. Read on to find out where you can get more house for your money in 2023. 

8 of the cheapest places for property 

Middlesbrough

The northeast has some of the cheapest property prices in the whole of England, with Middlesbrough coming top. With the average house costing just £54,978 in this Teesside town, it’s a great place to look for a home if you don’t have much to spend. The suburb of North Ormesby is particularly affordable, with houses costing as little as £30,000 here. 

Bradford

Bradford is the second-cheapest place to buy a house in the UK, with the average property costing £58,673. The City Centre, Goitside, Little Germany, Independent Quarter, City Park and West End all renowned for affordable houses. The average price paid for a house in these parts of Bradford is £47,998.

Sunderland

Also in the northeast, Sunderland has some of the cheapest houses in the country. The SR1 postcode is particularly affordable, with a property here likely to set you back around £65,000. Sunderland has a stunning coastline, green spaces, and a busy city centre, making it a fantastic place to call home. 

Grimsby 

When looking for the cheapest place to buy a house, consider Grimsby. Take a closer look at the East Marsh area, which has several houses that ideal for smaller budgets. You could snap up a property for as little as £71,105. Not only is the housing here cheap, but the beach is ten minutes away in Cleethorpes, providing many fantastic days out for families. 

Shildon

Shildon is one of the most affordable towns to buy a house, with an average price of just £73,637. Lying just 13 miles outside Durham, it’s in the ideal position for commuters and those who want to shop ‘til they drop and dine in fantastic restaurants. Shildon is also home to the famous train museum, known as Locomotion. The museum tells the story of the early days of the railway industry and the town’s links to the railways since the 1820s.

Peterlee 

Peterlee, or “Mexico City” as the locals affectionately call it due to its distinctive architecture, is a great place to look for your next home. The SR8 postcode in particular has an abundance of cheap houses. Many of these are ideal for first-time buyers or investors. Near to Durham and with its own bustling town centre, Peterlee should be on your list if you’re looking for a cheap house.

Stanley

A former colliery town, Stanley is awash with cheap houses for sale. With the average price currently standing at £91,391, you can look forward to snapping up a real bargain property. Whether you want to live in the house you buy or rent it out, you can expect it to be a fantastic investment. Although the high street isn’t as busy as it once was, there’s a real sense of comradery in the town.  

Liverpool 

Even though property in Liverpool is in high demand, houses in some areas of the city are some of the most affordable in the UK. You can expect to buy a cheap house for as little as £91,793. Walton South is the cheapest area to purchase a house, with an average price of £77,000. Everton East is also pretty cheap, with the average property costing only £86,000.

Is buying a cheap house a good idea?

With so many cheap houses for sale, you may be wondering if you should snap one of them up. Buying a cheap house can be a good idea in certain situations, but it also comes with potential risks and considerations. There are several factors to consider, including:

• Affordability: Buying a cheap house may make it easier to get on the property ladder for those with tight budgets. It provides the opportunity to enter the housing market and build equity.
• Investment potential: Buying a cheap house in an up-and-coming neighbourhood or an area with future development plans can be a wise investment. The property’s value may increase over time, allowing you to make a significant profit if you do choose to sell in the future.
• Renovation and improvement opportunities: Cheap houses sometimes require renovations or repairs, providing the opportunity to customise the property to your exact preferences as well as potentially increase its value.
• Maintenance and repair costs: Since cheaper houses are typically older and in worse condition than newer homes, they sometimes require more maintenance and repairs. You’ll need to consider the potential costs involved when deciding whether to buy a cheap house. 
• Location and resale potential: The location of the house is an important factor to consider. If the neighbourhood is undesirable or has limited amenities, it may affect the property’s resale potential in the long term. 
• Financing and mortgage considerations: Financing the purchase of a cheap house may be more challenging since lenders often have stricter requirements or may be less willing to lend for lower-priced properties. Explore your mortgage options with a broker before making a decision.

Book a removal company 

If you’re moving to or from Bradford and you need a removal company, look no further than Darvills. We’re widely regarded as the leading removal company in Bradford, serving domestic and commercial customers throughout the area. We’ve been helping people move house for many years, during which time we have built up a fantastic reputation. Check out the testimonials on our website to find out what our customers are saying about our services. 

Contact us 

Now you know the cheapest place to buy a house, you may have started planning your next move. If you’re looking for a removal company in Bradford, get in touch with Darvills. You can reach our team by calling 01274 963 057 or by sending a message via our website. We will get back to you as soon as we can to arrange a pre-move survey and provide you with a competitive quote for our services.