The Ten Cheapest Areas to Buy in the UK

Over the last 12 months we have seen prices consistently rise and fall. 2013 started with a 0.7% fall but the last couple of months have seen house prices creep up ever so slightly. Banks and building societies and even the Chancellor of the Exchequer are trying to encourage buyers back into the housing market in an attempt help people onto the property ladder. But for many people across the UK buying their first house is still out of their reach due to prices in some areas remaining incredibly high.

Over the last 12 months we have seen prices consistently rise and fall. 2013 started with a 0.7% fall but the last couple of months have seen house prices creep up ever so slightly. Banks and building societies and even the Chancellor of the Exchequer are trying to encourage buyers back into the housing market in an attempt help people onto the property ladder. But for many people across the UK buying their first house is still out of their reach due to prices in some areas remaining incredibly high.

However, not all areas in the UK are the same and there are some areas where house prices are more affordable. So if you are not tied to a particular area because of family or your career, then relocating to a different area may be the answer. However, before you up sticks and move, it’s always important to carry out your research into why a particular area has low house prices. Check things like unemployment rates and crime levels in the area, both of which may affect the price of a property.

We have listed below the 10 cheapest areas in the UK to buy a home, based on the purchase price of a three bedroom terraced property (prices from rightmove.co.uk):

  1. Belfast and Antrim, Northern Ireland
    Belfast is a small city which has recently seen a growth in its economy. House prices are incredibly low in Belfast with our search only finding one three bedroom terraced property on sale at £15,000.

  2. Stoke-on-Trent
    Stoke on Trent is the home of the pottery industry in England and a centre for service industries and distribution centres. House prices start from as little as £19,000.

  3. Mountain Ash, Rhondda, Glamorgan
    This Welsh town has many low priced homes on offer. A three bedroom mid terraced house can start anywhere from £20,000.

  4. Bootle, Merseyside Liverpool
    This large multicultural port city is home to a wide number of reasonably priced homes, with prices starting from £20,000.

  5. Hull
    Hull has seen a recent increase in investment and regeneration. Prices for a three bedroom terraced house start from around £30,000.

  6. Swansea, South Wales
    This highly populated Welsh coastal city has numerous properties to offer. A house in Swansea will cost upwards of £30,000.

  7. Newcastle-upon-Tyne
    Newcastle is a diverse city that mixes the traditional with the innovative. House prices differ greatly across the city. Prices for a three bedroom terraced house start from £40,000.

  8. Birmingham
    Birmingham is a large and diverse city and considered a major international commercial centre. House prices start from around £40,000

  9. Sheffield, South Yorkshire
    Sheffield is one of the largest UK cities populated by over half a million people. This historically industrial city has numerous three bed terraced houses on offer. Prices start from around £60,000.

  10. Wakefield, West Yorkshire
    Wakefield used to be known for its coal mines and traditional manufacturing industries. Recent growth can be attributed to investment and regeneration programmes. House prices start from around £65,000 for a three bed terraced home.