Property News > Families can still find suitable homes in the UK for £100,000 or less

Families can still find suitable homes in the UK for £100,000 or less

New research suggests that family homes consisting of three bedrooms or more, in or around a major UK town or city, are still available for under £100,000. 

Indeed, the analysis from online estate agents Housesimple shows the best value regions are in Scotland, the North of England and the Midlands, with 17 towns and cities currently having 200 or more homes suitable for families available for £100,000 or less. 

A breakdown of the data shows that Liverpool has over 600 houses on the market priced at £100,000 or less, and each of them has at least three bedrooms and is within five miles of the city centre. Meanwhile, with 449, Rotherham has the second most homes on the market that meet the same criteria, followed by Newcastle at 393. 

Meanwhile, nearby Gateshead has 379 family properties for available £100,000 or less, while Hartlepool has 379, Birkenhead 359, Doncaster 337, Middlesbrough 308, Leeds 298, Bradford 289, St Helens 287, Barnsley and Durham 262, and Blackpool 247.

In contrast to the relatively high availability in the north of England, the top 40 best value locations for families does not feature any towns or cities from the south of England. With just 23 homes available under the £100,000 threshold, Exeter has the highest level of availability of anywhere in the entire south. 

The difference between north and south is made clearer still by the fact that 17 of the 18 towns and cities which have no family homes for available for under £100,000 are in the south. 

‘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.

Related Articles

Homeowners set to benefit from closed Help to Buy loophole

It has been announced that 35 year mortgages can now be taken out by homeowners with Help to Buy properties. A loophole has been closed following a move by the government ...
View >>

Money spent on rent before buying a first home revealed by study

Before getting onto the property ladder, the average UK adult will pay more than £63,000 in rent, according to a new study.Indeed, it has been discovered by researchers that people ...
View >>

Rents grew by 1.2% in the 12 months to July 2019, according to official data

The UK’s private rented sector has seen rents increase by 1.3% in the 12 months to July 2019, with the latest official figures showing no change since May of this ...
View >>

Need Help?

Thank you. We will give you a call back as soon as possible!
Name *
Email *
Phone *
When would you like a callback? *