While you can buy a home in the North of the UK for little more than £50K, down south, you’re struggling to find anything for less than £250,000.
Estate agency Keller Williams UK has conducted research into the average house prices in post codes throughout the UK and can now reveal the nation’s most affordable housing markets.
The most affordable homes in the UK, with an average price of just £55,583, are found in KA24 which is found just to the south west of Glasgow in a town called Dalry.
With the UK’s average house now worth more than £250,000, it’s easy to forget that homes can still be purchased for 50K, but Dalry isn’t an anomaly when it comes to low average values.
The second lowest average price is also found in Scotland, more specifically the Upper Ingleston postcode of PA15 where the average house price is £56,652.
BD1 in Bradford, West Yorkshire, comes third, with your average house selling for £59,593.
This research demonstrates how vast the gap is between values in the north of the country and those in the south. The next postcodes on the list are found in Middlesbrough, Darlington, Sunderland, Darlington, and Grimsby, with the latter being the most southerly town on the affordable homes list, yet is still located further north than some parts of Yorkshire,
The south of England is largely unrepresented in the countdown of most-affordable postcodes. In fact, at the very bottom of the list we have London where even in its cheapest postcode, the average home costs £296,115.
That gives us a difference of more than £200,000 between average homes in the areas of the north and those in the capital.
With such radically different prices found in the north and the south, it’s little surprise that more people than ever are relocating to more affordable parts. With a quarter of a million to spend in London, you’re getting little more than a two-bed flat. Take that money to Leeds, Sheffield, or parts of Scotland, however, and you’ll be getting a generous 5-bed family home in a beautiful location with a big garden.
Can this disparity continue? It’s been the same narrative for generations now, so one can only assume the north will continue to be cheaper than the north. But if a significant amount of people start relocating from south to north, and more jobs/industry keep doing the same thing, it won’t be long before more areas of the north see their prices shooting up, eventually approaching those averages currently found in the likes of York and Manchester.