North East house prices: 15 cheapest areas to buy a home, including in Sunderland and Middlesbrough
The North East has some of the cheapest property prices in the whole of England – 15% of neighbourhoods in the region were found to have an average property price of less than £100,000.
The North East remains the most affordable region of England to buy a property, official figures show.
One neighbourhood in County Durham was found to be the cheapest in the whole of England, with the average home selling for well below £60,000 in the year to September 2022.
This is almost 60 times less than London’s exclusive Knightsbridge, Belgravia and Hyde Park neighbourhood, the most expensive in the country, where the average home will set you back £3.4 million.
Localised figures published by the Office for National Statistics (ONS) shows that the top three cheapest areas to buy a property were all in the North East in the year to September 2022 – with eight out of the top 10 cheapest areas all in the region. Overall, 15% of the 340 neighbourhoods in the North East were found to have an average property price of less than £100,000.
Property price data published in the UK House Price Index shows the average property price for a home in the North East was £162,286 in September 2022 – the cheapest of any UK region and 3.4 times cheaper than London.
Prices have increased in the last year however, rising £7,000 on the previous September’s figures. Nationally, the average property price in England was £312,513, almost £26,000 higher than in September 2021.
Here we reveal the 15 most affordable neighbourhoods in the North East for buyers looking for a home that won’t cost the earth. Images are for illustrative purposes.
Read more:
1. Horden, County Durham
Horden in County Durham has the cheapest property prices in the North East. The average home costs £57,500. (Image: Adobe)
2. Stanley West and Annfield Plain, County Durham
Stanley West and Annfield Plain in County Durham is the second cheapest neighbourhood in the North East. The average home costs £61,750. (Image: Adobe)
3. Ayresome, Middlesbrough
Ayresome in Middlesbrough has the third most affordable property prices in the North East. The average home costs £62,000. (Image: Adobe)
4. Ashington Hirst, Northumberland
In Ashington Hirst, Northumberland, the average property costs £63,500. (Image: Adobe)