Cities Offering the Most Homes Under £100k

Recent research by Yopa highlights that affordable homes priced at £100,000 or less still exist in the UK property market, even in major cities.

While these homes make up a small fraction of overall listings, some cities stand out for offering a greater proportion of budget-friendly options.

Key Findings:

Nationwide Availability:

  • Out of 494,081 homes listed for sale across Great Britain, just 5% have an asking price of £100,000 or less.

Regional Breakdown:

  • Scotland: Leads with 17% of all listings falling under the £100,000 threshold.
  • Wales: 6% of listings meet this criterion.
  • England: Just 5% of homes are priced at or below £100,000.

Top Cities with the Most Affordable Homes:

  • Bradford – 16% of listings priced under £100k.
  • Liverpool – 14%.
  • Glasgow – 13%.
  • Newcastle – 11%.

Contrast with High-Price Markets:

  • London: Only 0.6% of listings are priced below £100,000.
  • Edinburgh: Slightly higher at 0.8%.

Why These Cities Stand Out:

  • Bradford, Liverpool, and Glasgow have historically offered lower average property prices, which make them attractive for first-time buyers or investors looking for budget-friendly opportunities
  • These homes may be smaller, older, or in need of renovation, but they present an entry point for buyers struggling with affordability.

Implications for Buyers:

  • Opportunities for First-Time Buyers:
    These properties can provide a stepping stone onto the housing ladder for those with limited budgets.
  • Renovation Potential:
    Many homes at this price point may require upgrades, presenting opportunities for buyers with the vision and resources to add value.
  • Investment Appeal:
    Budget-friendly homes in cities like Bradford and Liverpool could offer strong rental yields or resale value following renovation.

Conclusion:

While the availability of homes under £100k has dwindled due to rising house prices, cities like Bradford, Liverpool, Glasgow, and Newcastle still offer a significant proportion of affordable options. For buyers or investors looking for budget-friendly opportunities, these cities represent key areas to explore.