Survey reveals affordable hotspots across the country, but you may have to head north
For some, it’s all about location, location, location but when London postcodes and Cotswold’s villages are out of your price range, affordable properties begin to look more and more appealing…
Which? Mortgage Providers have researched which (pardon the pun) cities and towns across the country will get you the most for your buck in this year’s affordable hotspots.
The dwellings all boast an average house price below the country’s average of £200,000, and equally, they all show a rise in house prices over the last 4 years suggesting they are promising areas to invest in…
Liverpool tops the 2016 affordable hotspot list as the northern city boasts an average house price of £120,000 – well below the nation’s average house price of £200,000. House prices have also risen 40% from £85,000 over the past 4 years.
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Liverpool is followed by Conwy, Wales where the average house price has risen 37% but still remains affordable at £185,000.
These up-and-coming areas are particularly appealing to first-time buyers (who are looking to get their foot on the property ladder) and investors as the properties are affordable but promise a good profit a few years down the line.
House price rises in low-cost areas: