Newly released research by national estate agency, Keller Williams UK, takes a look at which postcode pockets of the property market are currently home to the most affordable homes where the average house price is concerned.
The firm crunched postcode level market data across England Scotland and Wales and found that the most affordable pocket of the national property market is the KA24 postcode in Scotland. Located to the south-west of Glasgow in Dalry, the postcode is home to an average property price of just £55,583.
The Upper Ingleston postcode of PA15 ranks as the second most affordable in Britain and Scotland, with an average house price of just £56,652.
The third most affordable in Britain and most affordable in England is the BD1 postcode in Bradford, with an average house price of £59,593. England’s other most affordable property pockets include the TS1 postcode in Middlesbrough (£62,975), the DL4 postcode north of Darlington (£67,085), the SR1 postcode in Sunderland (£69,108) and the DN31 postcode in Grimbsy (£75,510).
The most affordable postcode in Wales ranks as the NP24 postcode in New Tredegar with an average house price of £81,925, closely followed by the CF43 postcode (£83,599).
The least affordable, affordable market is predictably London where the cheapest outcome is still home to an eye-watering average property price of £296,115.
This is how it plays out across the rest of Britain:
East Midlands: LE1 (£128,936), DE1 (£155,033), S80 (£158,870).
East of England: NR30 (£167,771), PE1 (£190,326), NR3 (£195,662)
London: IG11 (£296,115), SE28 (£314,765), DA8 (£320,000).
North East: TS1 (£62,975), DL4 (£67,085), SR1 (£69,108).
North West: CA23 (£80,367), L20 (£94,879), FY1 (£95,799).
South East: SO14 (£206,885), ME11 (£213,333), PO32 (£214,795).
South West: PL4 (£156,241), PL5 (£160,980), PL2 (£174,245).
West Midlands: ST1 (£105,539), ST6 (£119,389), WV1 (£127,341).
Yorkshire and the Humber: BD1 (£59,593), DN31 (£75,510), S4 (£91,389).
Ben Taylor, CEO of Keller Williams UK said, “As a nation, we’re obsessed with property and this obsession often focusses on the most expensive areas. As a result, some might struggle to believe that there are parts of the UK market where the average property price sits below £60,000.
“Looking at the most affordable postcodes by region also highlights the huge disparity between property prices in areas such as London and the South East when compared to the likes of the North East and Yorkshire. To think there is a gap of over £200,000 between the cheapest area of Yorkshire and its London counterpart is quite frankly crazy.”