House prices are a crucial part of a home buyer’s decision on when and where to move to.
Now new research has revealed 17 places across the UK where it’s possible to buy a family home for less than £100,000.
Online estate agent Housesimple analysed the residential property market to reveal there are currently more than 200 home of three bedrooms or more available at £100,000 or less – or around three times the average UK salary.
Liverpool has most property
The city with the most family homes at that price is Liverpool where, as of the date of the research on June 4, there were 628 houses for sale, all within a five-mile radius of the city centre.
In Rotherham, south Yorkshire, there were 449 family homes on the market for less than six figures on the same date.
According to Housesimple, England’s north-west, north-east and Yorkshire regions contain the top 10 best-value towns and cities for families.
No town or city in the south of England found a place in the top 40 best-value locations for families, no surprise with the clear north-south divide on property prices.
Look north for value
Exeter is the location with the best value but only 23 homes within five miles of the city on the market for £100,000 or less.
Of 18 towns and cities with no family homes on sale in that price bracket, 17 are in the south of England, including London, Brighton and Cambridge, with Aberdeen in the north-east of Scotland the only outlier.
Housesimple’s CEO Sam Mitchell said: “Even with the challenges and uncertainty surrounding Brexit, we are seeing healthy levels of interest from buyers in northern regions, keen to take advantage of attractively priced properties, affordable mortgage rates and stable local economies.
“Buying the family home is the bigger purchase most of us will ever make. The struggles families have faced buying a house in the south have been well-documented.”
Value to be found
He added: “Compared to the south, there is substantial value to be found in property markets in regions such as the north-west and Yorkshire.
“Although £100,000 is at the lower end of the market, there are also plenty of substantial family houses at prices around £300,000 to £400,000 that would probably be £1 million plus in and around London and unaffordable to the majority of families there.”