|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |   
Sunday 22nd of June 2008
March 14, 2008

The £35,000 house still exists


by Gill Montia
”The

While the latest Halifax house price survey shows the average cost of a UK home at £196,649, much cheaper accommodation is available for those prepared to take a gamble.

According to the property website, Mouseprice, the north-east of England has nine neighbourhoods where an average property value is below £35,000.

A home on Oxford Street in South Elmsall, near Pontefract, could prove the cheapest in the country, with the average cost in the region of £25,600.

The research puts Tower Green in Middlesbrough as the second cheapest address in the country. Tower Green is in the St Hilda’s area of the town, which has been undergoing a period of demolition and regeneration; a house costs an average of £27,400.

In the East of the country, the cheapest street is Lake Way in Jaywick, Essex, where Mouseprice’s figures show the average price of a home at £53,300.

Selwyn Lim, a director of Mouseprice, says: “While an average property is currently worth around £200,000, it is interesting to note that over 10% of transactions are for properties costing less than £100,000. As some of the properties on the streets in question have been targeted for demolition, regeneration of the areas could occur, transforming roads into more desirable locations to live.”

The website’s figures are based on Land Registry data on streets where there have been at least five sales since April 2000.

Averages include right-to-buy and compulsory purchase prices, as well as sales on the open market.

Story link: The £35,000 house still exists


Discuss this in the Finance Markets forums


Email This Post Email This Post Print This Post Print This Post

Add to Bookmarks:

ADD TO DEL.ICIO.US     ADD TO DIGG     ADD TO FURL

ADD TO STUMBLEUPON     ADD TO YAHOO MYWEB     ADD TO GOOGLE     ADD TO SPURL

Previous: « Surveyors give Budget luke warm response
Next: Europe markets lower on continuing credit concerns »

Visited 706 times, 1 so far today