Area where average house prices are below £100k
BUYING a property is an increasingly difficult thing to do for many people, with homes in most parts of the UK becoming less affordable in recent decades.
But as prices fall in the short term across the UK, in one South Wales town, the average house now costs less than £100,000.
In Wales and England, there are currently 10 areas where homes typically cost less than £100,000.
Ferndale in Rhondda Cynon Taf was the only one in Wales to dip below this threshold, with average prices in the CF43 postcode coming in at £98,682.
One of the early industrial towns of the Rhondda Valley, Ferndale has previously been named the cheapest postcode in Wales.
Another South Wales town took 14th spot on the list, with an average price of £107,886 in New Tredegar (NP24).
Houses in the UK now cost an average of £282,000, according to the UK Government’s latest house price index data. That’s a decrease of 0.6% compared to a year earlier.
It means the average home costs eight times the average salary.
But in some neighbourhoods, prices are much lower.
Across Wales and England, the TS1 postcode area (Middlesbrough town centre) has the lowest average house price of any postcode area to have had at least 20 property sales in the past year.
Homes there sold for an average of £70,560 over the past 12 months.
That’s actually a 4% increase from the previous year, when they sold for an average of £67,535 each.
The BD1 postcode area – which covers Bradford city centre – was the next cheapest place to buy a home (the average house there sold for £74,686), followed by DN31 in Grimsby (£75,147), TS3, also in Middlesbrough (£83,975) and DL4 in Shildon, County Durham (£88,197).