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Where are the cheapest places to rent or buy?

Rentround June 14, 2021

Prices are crazy high right now. Pent up demand & the stamp duty holiday are have pushed house prices up by 8.6%.

In addition, tenants are on the move. The eviction ban has been lifted and there is a shift towards moving away from the cities as the working from home movement gains traction.

As estate & letting agents collect their fees, landlords see their constraints lifted, tenants move to the suburbs and investors analyse massive data swings, the past 18 months have provided a host of turbulent events to the property industry.

The average prices to buy and rent in the UK are £267,000 and £866 (pcm), respectively – all time highs.

So for those on a budget, where are the cheapest places to rent or buy a property?

[Sources:Rentround, Property Data, Homesearch]

 

Cheapest places to rent a property in 20201

The North East dominates proceedings, with 3 of the top 5 cheapest places to rent 

Darlington takes the top spot with an average monthly rent of £464. 

Specifically, DL4 – Shildon, is the cheapest postcode in Darlington, with an average monthly rent of £394 per month, £15 more than last year.

Carlisle sits in 2nd place, with an average monthly rent of £479 per month. CA14 Workington provides the cheapest place for renters with an average monthly rent of £422.

Following the top 2 are North East located Cleveland & Sunderland, with Blackburn completing the top 5.

 

Cheapest places to rent: The top 10

# City/Town Average monthly rent
1 Darlington £464.20
2 Carlisle £479.50
3 Cleveland £480.85
4 Sunderland £490.43
5 Blackburn £515.00
6 Doncaster £515.50
7 Durham £527.33
8 Hull £543.00
9 Halifax £551.50
10 Blackpool £568.75

Cheapest places to buy a property in 2021

As can be expected, the participants in the cheapest places to rent are similar to the areas where it’s the cheapest to buy a property… with a few place swaps.

Sunderland, just £26 pcm more expensive than 1st placed Darlington on the cheapest places to rent table, tops the cheapest places to buy a property in the UK list.

The North East city tops it’s 2nd placed competition (Cleveland) by just over £10,000 to buy a property.

Durham & Darlington complete the top 4 cheapest places to buy a property, making it a clean sweep for North East cities topping the list.

 

Cheapest places to buy a property: The top 10

# City/Town Average purchase price
1 Sunderland £119,045.00
2 Cleveland £129,748.73
3 Durham £139,820.00
4 Darlington £142,514.89
5 Carlisle £142,719.00
6 Halifax £144,822.50
7 Blackburn £148,795.17
8 Doncaster £152,139.08
9 Hull £152,929.18
10 Blackpool £153,074.25

Full list of data

Full list of the cheapest places to rent a property

# City/Town Average monthly rent
1 Darlington £464.20
2 Carlisle £479.50
3 Cleveland £480.85
4 Sunderland £490.43
5 Blackburn £515.00
6 Doncaster £515.50
7 Durham £527.33
8 Hull £543.00
9 Halifax £551.50
10 Blackpool £568.75
11 Bradford £573.38
12 Lancaster £574.67
13 Huddersfield £587.00
14 Wigan £587.00
15 Wakefield £594.14
16 Newcastle £599.78
17 Sheffield £609.45
18 Oldham £613.67
19 Stoke on Trent £620.60
20 Bolton £623.00
21 Chester £635.00
22 Lincoln £638.17
23 Liverpool £644.88
24 Crewe £645.88
25 Newport £648.00
26 Preston £650.89
27 Plymouth £654.50
28 Dudley £660.00
29 Llandudno £661.00
30 Wolverhampton £668.11
31 Walsall £681.22
32 Derby £682.80
33 Nottingham £685.79
34 Telford £689.71
35 Worcester £694.75
36 Swansea £710.50
37 Hereford £717.25
38 Torquay £720.25
39 Warrington £723.36
40 Leicester £746.18
41 Shrewsbury £765.25
42 Peterborough £767.32
43 Birmingham £773.51
44 Stockport £796.15
45 Leeds £800.86
46 Taunton £808.75
47 York £813.09
48 Northampton £820.17
49 Manchester £827.07
50 Dorchester £827.33
51 Exeter £829.83
52 Cardiff £831.20
53 Norwich £834.15
54 Swindon £842.50
55 Coventry £851.75
56 Ipswich £877.08
57 Salisbury £888.20
58 Gloucester £890.40
59 Luton £890.71
60 Bath £894.86
61 Harrogate £896.75
62 Colchester £911.88
63 Canterbury £937.78
64 Medway £954.25
65 Southampton £984.53
66 Portsmouth £984.86
67 Milton Keynes £992.70
68 Southend £1,003.33
69 Stevenage £1,022.20
70 Bristol £1,032.05
71 Tonbridge £1,034.62
72 Bournemouth £1,055.93
73 Reading £1,074.71
74 Cambridge £1,076.64
75 Chelmsford £1,082.00
76 Oxford £1,086.00
77 Redhill £1,091.50
78 Brighton £1,114.00
79 Hemel £1,147.26
80 Dartford £1,157.78
81 Croydon £1,178.71
82 Sutton £1,190.50
83 Enfield £1,231.00
84 Guilford £1,253.50
85 Romford £1,259.14
86 Watford £1,261.89
87 Southall £1,263.10
88 Truro £1,276.50
89 St. Albans £1,286.75
90 Slough £1,290.30
91 Ilford £1,347.64
92 Bromley £1,351.33
93 Twickenham £1,369.06
94 Harrow £1,384.00
95 Kingston £1,481.67
96 London £1,675.13
 

 

 

Full list of the cheapest places to buy a property

New wpDataTable

# City/Town Average purchase price
1 Sunderland £119,045.00
2 Cleveland £129,748.73
3 Durham £139,820.00
4 Darlington £142,514.89
5 Carlisle £142,719.00
6 Halifax £144,822.50
7 Blackburn £148,795.17
8 Doncaster £152,139.08
9 Hull £152,929.18
10 Blackpool £153,074.25
11 Wigan £159,811.43
12 Bradford £163,758.11
13 Newcastle £164,599.04
14 Liverpool £170,556.47
15 Llandudno £174,294.00
16 Wakefield £176,447.22
17 Bolton £176,518.83
18 Sheffield £176,660.22
19 Huddersfield £180,430.17
20 Newport £182,853.00
21 Oldham £184,569.00
22 Wolverhampton £191,230.44
23 Chester £191,671.20
24 Stoke on Trent £194,769.92
25 Lancaster £195,029.80
26 Preston £198,199.00
27 Plymouth £204,323.80
28 Dudley £212,890.88
29 Nottingham £213,327.76
30 Manchester £213,606.37
31 Cardiff £215,012.42
32 Swansea £215,727.17
33 Walsall £216,926.11
34 Telford £223,554.88
35 Lincoln £225,582.67
36 Leeds £226,495.24
37 Crewe £227,505.88
38 Derby £231,160.84
39 Norwich £240,336.15
40 Birmingham £245,917.09
41 Warrington £252,566.88
42 Peterborough £254,012.96
43 Worcester £259,393.00
44 York £261,770.80
45 Ipswich £265,252.71
46 Taunton £265,293.71
47 Northampton £266,203.78
48 Leicester £266,446.67
49 Shrewsbury £268,326.29
50 Coventry £273,381.24
51 Stockport £274,002.43
52 Colchester £281,226.78
53 Exeter £287,670.14
54 Hereford £288,024.17
55 Torquay £288,691.11
56 Truro £290,016.25
57 Luton £291,371.71
58 Dorchester £291,896.80
59 Portsmouth £292,901.58
60 Canterbury £303,644.30
61 Medway £304,157.83
62 Swindon £306,753.14
63 Salisbury £307,971.00
64 Gloucester £313,598.67
65 Bournemouth £319,917.50
66 Bath £324,174.78
67 Grand Total £325,704.24
68 Milton Keynes £326,000.48
69 Harrogate £329,250.40
70 Bristol £333,196.57
71 Southend £338,342.89
72 Dartford £347,419.67
73 Brighton £349,548.62
74 Southampton £357,953.71
75 Tonbridge £378,729.73
76 Romford £380,943.29
77 Stevenage £391,075.30
78 Cambridge £403,091.57
79 Sutton £406,246.83
80 Croydon £412,044.14
81 Oxford £413,012.67
82 Reading £416,281.18
83 Southall £417,204.80
84 Redhill £424,085.00
85 Chelmsford £429,043.44
86 Guilford £445,339.65
87 Hemel £454,576.52
88 Enfield £463,099.00
89 Watford £483,028.33
90 Ilford £491,909.91
91 Slough £499,306.30
92 Bromley £504,350.50
93 Twickenham £507,312.72
94 Harrow £520,425.50
95 St. Albans £524,030.50
96 Kingston £540,216.11
97 London £650,793.42
 

 

 

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