{"id":5023994,"date":"2019-06-20T09:45:40","date_gmt":"2019-06-20T08:45:40","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=5023994"},"modified":"2023-10-10T15:58:56","modified_gmt":"2023-10-10T14:58:56","slug":"first-time-buyers-can-buy-flats-in-the-north-for-under-60000","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-gb\/2019\/06\/20\/first-time-buyers-can-buy-flats-in-the-north-for-under-60000\/","title":{"rendered":"First-time buyers can buy flats in the north for under \u00a360,000"},"content":{"rendered":"

The north comes out on top for first time buyers looking to go flat out on a home.<\/strong><\/p>\n

The north of England has claimed top spot with 18 of its towns and cities ranked out of 20 as the most affordable locations for first time buyers to step onto the housing ladder.<\/p>\n

Online agency,\u00a0Housesimple\u00a0has examined\u00a0recent\u00a0flat sales across the UK\u2019s cities and towns\u00a0using figures from the Land Registry\u00a0to identify the most affordable locations for first time buyers.<\/p>\n

The north-west and the north-east of England came out on top, with Burnley offering the best value throughout the UK at an average price of \u00a354,161 for a flat. Hartlepool came in at second place with an average sale price of \u00a357,659.<\/p>\n

Throughout the UK, only Burnley and Hartlepool recorded an\u00a0average\u00a0sale\u00a0price\u00a0of a\u00a0flat\u00a0for less than\u00a0\u00a360,000.<\/h3>\n

Unsurprisingly, the research reveals that there are no towns or cities in the south of England where a flat sold for an average sale price under \u00a3100,000.<\/p>\n

Swindon offers the best value in the south, with the average price of a flat at \u00a3140,847.<\/h3>\n

Both Stoke-on-Trent and Mansfield in the midlands, were the only towns outside the north that featured in the list at \u00a375,104 and \u00a376,973 respectively.<\/p>\n

North South divide shows no sign of narrowing<\/h3>\n

In London, there are three boroughs where the average price of a flat is under \u00a3250,000. In Havering at \u00a3232,536, Barking and Dagenham at \u00a3234,655, and Bexley at \u00a3239,366. Kensington and Chelsea\u00a0is\u00a0the only borough\u00a0recording an\u00a0average sold price of\u00a0in excess of \u00a31 million for a flat.<\/p>\n

Sam Mitchell, chief executive officer of Housesimple said: \u201cOur research brings into sharp relief the issues facing buyers in the south where more and more people, including young families, struggle to save a sizeable deposit to afford even a basic one bedroom flat.\u201d<\/p>\n

\u201cThe north of England continues to offer great value for money across the board. With plenty of stock coming onto the market at affordable levels in the north-west and north-east, prices are just three or four times the average UK salary, so home ownership is a reality not a pipe-dream.\u201d<\/p><\/blockquote>\n

Is cheap property a good investment? Check out the latest podcast<\/h3>\n

This month\u2019s podcast covers everything you need to know about Property Management & Mortgages. We will be joined by Matt Eastham from Easthams & Co \u2013 Property Management and Marcus Docker from Visionary Finance. They give us their insider\u2019s view on everything you need to know in the property management and mortgages markets, hosted by our very own Katie Walker.<\/p>\n

Covering our some of clients top questions and the latest changes in the\u00a0UK property market: market trends, Section 21, letting fees ban, generation rent, and buying a property in a limited company.<\/p>\n