Family homes for £100,000 or less can still be found in the UK
It is still possible to buy a family home, with three bedrooms or more, in or close to a major UK town or city, for less than £100,000, according to research.
Overall, 17 major towns and cities currently have more than 200 family houses for sale at £100,000 or less and the top 40 with the best value are in the North of England, Scotland and the Midlands.
The analysis from online estate agents Housesimple also shows that the top 10 best value towns and cities for families are in just three regions – the North West, the North East and Yorkshire.
Liverpool has 628 houses for sale, with three bedrooms or more, listed at £100,000 or under and all are within a five mile radius of the city centre and the next location with the most for sale is Rotherham at 449, followed by Newcastle at 393.
Gateshead has 379 for sale at £100,000 or less, Hartlepool 379, Birkenhead 359, Doncaster 337, Middlesbrough 308, Leeds 298, Bradford 289, St Helens 287, Barnsley and Durham 262, and Blackpool 247.
Not a single town or city in the south of England features in the top 40 best value locations for families. Exeter offers best value in the south with just 23 homes on the market at £100,000 or below, within five miles of the city centre.
There are 18 towns and cities that currently have no family houses for sale for £100,000 or less, within a five mile radius of the centre and of these, 17 are in the south, include
‘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,’ said Sam Mitchell, chief executive officer of Housesimple.
‘Buying the family home is the biggest purchase most of us will ever make. The struggles families have faced buying a house in the south have been well documented. Compared to the south, there is substantial value to be found in property markets in regions such as the North West and Yorkshire,’ he pointed out.
‘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,’ he added.