For people wanting to buy their first home during a cost of living crisis, the price of property in their chosen area will be a key factor to consider. So which parts of the Lancaster district have the most affordable homes?
Average house prices vary dramatically across the different neighbourhoods of Lancaster, according to new figures published by the Office for National Statistics (ONS). Across England and Wales, the cheapest neighbourhoods to buy a property can largely be found in the North East, North West and Yorkshire and the Humber.
The ONS splits England and Wales into 7,202 small areas, of which 128 have median house prices of under £100,000. The cheapest place to buy a house is Horden in County Durham, where the average property will set you back just £57,500. Unsurprisingly, the top 20 most expensive neighbourhoods were all found in London. Barking Central was the cheapest neighbourhood to buy a property in the capital, with prices just below £200,000.
The figures are based on ONS analysis of HM Land Registry data on prices paid for properties in the year to September 2022. How do property prices compare in Morecambe and Lancaster? Here we reveal the nine cheapest neighbourhoods to buy a property.