Soaring property prices are making it tough for many first-time buyers to enter the property ladder. According to data from the Office for National Statistics , the average house price in the UK has increased by a huge 10% as of February 2022.
Alongside rising property prices, the increased cost of living and soaring inflation rates also affect prospective homebuyers. If your mortgage has recently increased dramatically, you might be considering a move to a more affordable area.
Many people are searching for a way to own their home while on a tight budget , and location plays a big role in the price of a property. If you’re not willing to give up city life but need somewhere more affordable, we have the answer. Here are the five cheapest cities in the UK to buy a property.
The 5 Cheapest Cities in the UK to Buy Property
Here are the five cheapest places to buy a home in the UK based on average house price:
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Carlisle, £143,958
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Bradford, £143,960
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Stoke-on-Trent, £147,697
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Kingston Upon Hull, £150,782
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Sunderland, £158,916
Cheapest Places to Buy a House
As many of us know, homeowners can save if they’re buying property in the north of the country, compared with the south of England. So, it probably comes as no surprise that the cheapest cities in the UK are all located to the north. Let’s find out more about each of the five cheapest areas in the UK.
Carlisle
Carlisle, a city that is over 2,000 years old, claims the top spot on our list of cheapest cities in the UK to buy a home. Not only does the city boast two Areas of Outstanding National Beauty and one World Heritage Site, but it also has a wealth of museums, including Carlisle Cathedral and Hadrian's Wall. If you like a city with history, look no further. Carlisle’s castle is more than 900 years old and was once the primary fortress guarding the North-West of England’s border with Scotland.
The average property sale in Carlisle is just £143,958, making it the cheapest city in the UK. The average salary in the city is £30,400, just 21.1% of the cost of a house.
Bradford
As the third largest city in Yorkshire, Bradford comes in second on the list of the cheapest cities to buy a property in the UK, with an average house price of £143,960. This city is steeped in local history and is fantastic for buyers who appreciate a period home, as it has a large proportion of Victorian builds that are great for inexpensive home improvements . Bradford is located in the foothills of the stunning Pennines, which makes it popular with first-time buyers.
Bradford also offers a convenient location for commuters as it is situated between Manchester and Leeds and also has Leeds Bradford Airport nearby. The city is easily accessible by car and train. The average yearly salary in Bradford is also comparatively high, at £31,700, coming in at 22% of the average property price.
Stoke-on-Trent
Stoke-on-Trent, or “The Potteries,” is an artistic hub with award-winning animal parks, gardens, and museums. This city is the perfect place to live if you love variety and adventure. The city’s Trentham Monkey Forest, where 140 Barbary macaques roam free, is a popular spot for tourists from all over the world.
Houses for sale in Stoke-on-Trent average around £147,697, with an average annual salary of £31,800, making up just 21.5% of the average property price.
Kingston Upon Hull
Kingston Upon Hull is usually referred to as Hull. The city also won the city of culture award recently due to its bustling and thriving cultural scene
Nestled on the north side of the River Hull, this historic market town has a wealth of rich culture and history. The city has an average house price of just £150,782, making it one of the most affordable cities in the UK to buy a property.
Sunderland
Home to a stunning coastline and bustling city, Sunderland also offers very affordable housing for first-time buyers. Purchasing a property in Sunderland will set you back about £158,916.
While the weather in Sunderland might not always be the best, there are still plenty of green outdoor spaces, which are incredibly important to most buyers. Offering a wealth of natural green space in the city, Sunderland is one of the best and cheapest places where houses are for sale in the UK.
Which Cities Are Cheapest for Commuters?
For those needing to commute to a major city, especially London, house prices can rise exponentially. While there are some spots in London where house prices are relatively low, they are hard to come by. For a cheaper housing market that is still near the capital, try Rugby, Luton, and Maidenhead. These are some of the best spots in the UK for commuters when it comes to affordability and saving money on petrol !
