The cheapest place to buy has 'dramatic landscapes' and homes for £180,000 below the UK average - full list

The cheapest place to buy has 'dramatic landscapes' and homes for £180,000 below the UK average - full list

Britons discuss house prices

GB NEWS
Sarra Gray

By Sarra Gray


Published: 20/03/2024

- 09:47

House prices across the UK have risen in the UK, sitting higher than the historical average for March

The housing market has been showing steady growth in recent months, with the average listing price for a property up by more than £5,000 this month.

For those looking to buy, some areas are more affordable than others, according to the latest Rightmove House Price Index.


Those searching for a property in the north east of England and in Scotland will get the most for their money, according to the new data.

Properties in the north east average £187,592 while homes in Scotland cost around £190,067. While these are the cheapest properties in the UK, the average selling price has still increased.

Durham waterfall / houses

The north east has some beautiful landscapes

GETTY/PA

Property in the north east are up 1.7 per cent month-on-month and are up two per cent on this time last year.

In Scotland, values have increased 0.5 per cent on last month and have climbed 4.2 per cent year-on-year - the biggest increase in the UK.

However, the price is much lower than the average property price, which the research put at £368,118.

Most affordable places to buy

North east - £187,592

Scotland - £190,067

Yorkshire & Humber - £247,054

Wales - £256,499

East Midlands - £287,145

West midlands - £288,945

South west - £383,889

East of England - £415,199

South east - £478,936

London - £686,844

The north east is home is towns and cities such as Newcastle, Durham and Gateshead and there is lots to explore in the area.

Visit North East England said: "The North East of England is a region rich in contemporary culture, historic sites, world heritage sites and dramatic landscapes."

Unsurprisingly, the most expensive properties can be found in the capital, London. Houses sell for an average of £686,844 and show monthly growth of 0.4 per cent and a yearly change of 0.9 per cent.

While house prices have increased on average, Wales has seen no changes and properties in some areas have even dropped in value since 2023.

Properties in the east of England are down 0.2 per cent, down 0.3 per cent in the south west and the south east had the biggest drop of 0.7 per cent. Rightmove’s director of property science Tim Bannister commented on the changes.

He said: “March is typically a strong month for asking price growth, as both buyer and seller activity levels rise and the spring selling season gets underway.

"However, the stronger than usual price growth this March indicates that new sellers are feeling much more confident, with some perhaps being over-optimistic, that there is enough buyer activity and affordability in their local market to achieve a higher price.

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Newcastle bridge water

Newcastle is in the north east

PA

"Despite the above average price increases in this opening three months of the year, asking prices are still £4,776 below their peak in May 2023.

"For those who can afford to buy and have yet to take action to move this year, this may provide a window of opportunity to buy as we now seem to be past the bottom of the market.

"While some sellers are still being over-optimistic with their pricing expectations, there are also more sellers who are aware of the need to be negotiable and realistic, with elevated interest rates compared to recent years still stretching affordability for many buyers.”

Britons looking to move can sell their home faster and for more money by making a kitchen upgrade that "can add serious value", according to experts.

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