Buy a home and get change from 100k - UK house prices mapped here
You can find out the average price of properties in your neighbourhood by using our interactive map, writes David Dubas-Fisher
PROPERTY PAIN: The average home costs eight times the average salary (Image: Getty)
The average price for a UK home is £282,000, according to the Government’s latest house price index data. The average home still costs a whopping eight times the average salary, despite the most you can usually borrow being capped at four-and-a-half times your annual income.
However, all is not lost because the housing market varies massively by location - we've found seven areas where you can still buy a home for less than £100,000. We've got Land Registry data showing the average house prices for every postcode area in the country for the 12 months leading up to February 29 this year.
Among these areas, the TS1 postcode area, covering Middlesbrough town centre, has the lowest average house price of any postcode area, with at least 20 property sales in the last year. Homes in this area sold for an average of £70,560 over the past 12 months, and they are on the up - that's a 4% increase from the previous year when they sold for an average of £67,535.
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The BD1 postcode area, covering Bradford city centre, followed as the next cheapest place to buy a home, with an average house selling for £74,686. This also showed an increase from the previous year's average of £71,975.
Other areas with low average house prices include DN31 (Grimsby) at £75,147, TS3 (Brambles Farm) at £83,975, DL4 (Shildon in County Durham) at £88,197, CF43 (Ferndale in South Wales) at £98,682, and BD3 (Barkerend in Bradford) at £99,206. These are the only areas in the country where homes sold for an average of less than £100,000 with more than 20 sales in the past 12 months.
You can find out the average price of properties in your neighbourhood by using our interactive map:
20 cheapest postcodes to buy a home (minimum 20 sales)
- TS1 (Middlesbrough Town Centre): £70,560
- BD1 (Bradford city centre): £74,686
- DN31 (Grimsby): £75,147
- TS3 (Brambles Farm): £83,975
- DL4 (Shildon): £88,197
- CF43 (Ferndale): £98,682
- BD3 (Barkerend): £99,206
- SR8 (Easington): £100,598
- DN1 (Doncaster town centre): £104,014
- HU1 (Hull): £104,536
- TS24 (Hartlepool): £104,900
- HU3 (Hull): £106,038
- DL17 (Ferryhill): £107,041
- NP24 (New Tredegar): £107,886
- NE17 (Chopwell): £108,567
- BB11 (Burnley): £110,023
- TS29 (Trimdon Station): £110,140
- FY1 (Blackpool): £110,312
- L4 (Anfield): £111,298
- BD5 (Bankfoot): £113,144
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