{"id":3000,"date":"2022-03-01T19:48:45","date_gmt":"2022-03-01T19:48:45","guid":{"rendered":"https:\/\/www.yopa.co.uk\/homeowners-hub\/?p=3000"},"modified":"2022-03-01T19:48:45","modified_gmt":"2022-03-01T19:48:45","slug":"where-are-the-cheapest-house-prices-in-the-uk","status":"publish","type":"post","link":"https:\/\/dy36.stage.yopa-dev.co.uk\/homeowners-hub\/where-are-the-cheapest-house-prices-in-the-uk\/","title":{"rendered":"Where are the cheapest house prices in the UK?"},"content":{"rendered":"\n

House prices\nhave had a bumper year in the UK, rising an impressive 10.8% between December\n2020 and December 2021 to an average price of \u00a3275,000<\/a>. <\/p>\n\n\n\n

Indeed, estate\nagency Savills<\/a> have confirmed that the mass migration\nfrom cities in favour of  more rural\nclimes during the pandemic era has resulted in an extensive rise in million\npound properties outside the capital. Indeed, of the homes which topped the \u00a31\nmillion mark for the first time in 2021, over 80 per cent were outside of\nLondon and an impressive 1 in every 42 homes now costs \u00a31 million+ in the UK. <\/p>\n\n\n\n

Has this\nmeteoric rise in house prices meant that buyers have been completely priced out\nof their preferred locations though? Or are there still places where you can\nfind a property bargain? Read on to find out where the cheapest house prices in\nthe UK can be found. <\/p>\n\n\n\n

The town\nwith the cheapest house prices in the UK<\/strong><\/h3>\n\n\n\n

Drumroll\nplease! Taking the top spot with the most affordable house prices in the UK so\nfar in 2022 (and for the second year<\/a> in a row) is the unassuming North East railway\ntown of Shildon<\/a> in County Durham, which offers a very\naffordable average house price of \u00a380,299.<\/p>\n\n\n\n

For a very\nreasonable price of \u00a359,561, you can pick up a terraced home in Shildon and semi-detached\nand detached properties average around \u00a373,363 and \u00a3203,567, respectively.<\/p>\n\n\n\n

The North East region\nhas always been a much more affordable proposition than its pricey neighbours\nto the South East, so this is perhaps unsurprising. Although as steep property\nprice increases have begun to stabilise in many parts of the UK following the\nend of the temporary reduction to stamp duty rates on 31 September 2021, it is\ninteresting to see that the North East continues to see a healthy rise<\/a> in asking prices, with a 2.5% monthly\nincrease in January 2022. As does the East Midlands (with a 1.1% increase) and\nthe South West (2.4%), suggesting that buyers are continuing to eschew the more\nurban and expensive UK towns and cities, pushing up demand, and subsequently\nhouse prices, elsewhere. <\/p>\n\n\n\n

However, with\nan average asking price of \u00a3165,277 versus a national average of \u00a3341,019 in\nJanuary 2022, the North East region remains one of the most affordable parts of\nthe UK to buy a home currently. <\/p>\n\n\n\n

A round up\nof UK regions by affordably* (by sold<\/em> price):<\/strong><\/h3>\n\n\n\n

When it comes\nto overall affordability, Northern Ireland tops the list with a very reasonable\naverage sold price of \u00a3159,109. Considerably less than the UK\u2019s overall average\nprice of \u00a3275,000 and that of pricey London (\u00a3673,238). <\/p>\n\n\n\n