Buying a forever family home remains the ultimate dream for would-be homeowners, but invariably this is only achieved by taking several smaller steps along the property ladder first.
But now new research has offered a lifeline for buyers on a budget, revealing the areas of the UK where you can buy a three bedroom plus family home for £100k and under.
The analysis from online estate agent HouseSimple found that there were 17 major towns and cities which had more than 200 family homes for sale at £100,000 or less, with many being located in the north and the midlands.
The ranking read as follows:
|Town/City||Region||Number of family houses for sale at £100,000 or less|
|Newcastle upon Tyne||North East||393|
Overall the north-west, north-east and Yorkshire emerged as the three regions with the top 10 best value towns and cities for families. Unsurprisingly not a single town or city in the south of England made it into the top 40 best value locations for families.
In fact, of the 18 towns and cities that currently have no family houses on the market for £100,000 or less 17 are located in the south (including London, Bath, Brighton, Bristol and Cambridge) while the remaining location is in Aberdeen, Scotland.
Commenting on the above figures, Sam Mitchell, CEO of Housesimple, said: ‘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.
‘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.
‘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 £1m plus in and around London, and unaffordable to the majority of families there.’
Would you consider laying down roots in one of the above areas?