When it comes to property investment, buying in the cheapest area doesn’t necessarily mean value for money. And at the same time, buying in an expensive area doesn’t ensure high yields. However, knowing your local property market inside and out can help you to make a better-informed purchasing decision.

That said, where is the cheapest house in the UK? Is the most expensive property in London? Let’s see what the data reveals.

UK House Prices by Postcode: Where is Cheapest?

According to Land Registry data, if you’re looking for a cheap house, Durham may be just the place for you as it is home to seven of the country’s cheapest streets. For example, you could pick up a property in Peterlee for under £15,000 in 2016.

However, for something even more economical, take a look at Waterloo Walk in Sunderland which has been named the cheapest street in England and Wales for the third year running. Tempted to buy on Waterloo Walk? Well, Hunters is currently marketing a one-bedroom property here for just £5,000.

 

(image: Hunters -York)

 

The cheapest house prices in the England and Wales can be seen in:

  1. Waterloo Walk, Sunderland, average price £14,600
  2. Eleventh Street, County Durham, average price £17,019
  3. Tees Street, County Durham, average price £17,078
  4. Twelfth Street, County Durham, average price £18,467
  5. Hollands Walk, Cheshire West and Chester, average price £18,817
  6. Belgrave Walk, Conwy, average price £18,833
  7. Seventh Street, County Durham, average price £19,250
  8. Sixth Street, County Durham, average price £19,479
  9. Hawthorn Street, County Durham, average price £19,800
  10. Ashton Street, County Durham, average price £19,833

 

Where is the Most Expensive Street?

Research by the Mirror into the most expensive areas to buy found that there were 1,451 streets in England and Wales where the average purchase price was £1million or more in 2016. This was up from 1,352 in 2015 and 1,411 in 2014.

Last year, Lansdowne Crescent in Notting Hill topped the list as the priciest area with homes here selling for an average of £9.6million. Want to purchase a property there? Well, Domus Nova are currently marketing a 5-bedroom penthouse flat in the prestigious W11 postcode for a cool £7.5million.

 

(image: Domus Nova)

 

The most expensive house prices in England and Wales can be seen in:

  1. Lansdowne Crescent, Kensington and Chelsea, average price £9,618,250
  2. Thurloe Square, Kensington and Chelsea, average price £ 9,583,333
  3. Lansdowne Road, Kensington and Chelsea, average price £8,410,000
  4. Marlborough Place, City of Westminster, average price £8,036,667
  5. Princes Gate, City of Westminster, average price £7,713,333
  6. Trevor Square, City of Westminster, average price £7,663,036
  7. Holland Park, Kensington and Chelsea, average price £7,582,536
  8. Hyde Park Gate, Kensington and Chelsea, average price £7,316,900
  9. Victoria Road, Kensington and Chelsea, average price £6,778,750
  10. Eaton Square, City of Westminster, average price £6,327,589

 

Thinking of Buying Soon?

Whether you require development finance to flip a bargain buy or commercial property investment funding to purchase a pricey purchase, our brokers are here to help you secure the money you need.


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