Middlesbrough town centre is the cheapest place to buy a home in England and Wales.
The average property in the TS1 postcode area sold for £68,837 in the year to the end of January 2024, according to exclusive analysis of the latest Land Registry’s price paid data.
That’s lower than any postcode area in the country to have had at least 50 sales in the last 12 months.
Grimsby is the next cheapest place to buy a home.
Houses in DN31 sold for an average of £74,193 each over the last year. That’s down by 19.1 percent compared to a year earlier when homes there sold for an average of £91,832.
The TS3 postcode area – which covers the Brambles Farm area of Middlesbrough – has the next lowest average at £83,838.
DL4 – Shildon in County Durham – has the next lowest average, with homes there costing an average of £86,993 each.
That’s followed by CF43 – Ferndale in Cardiff – with an average of £99,001. Then it’s SR8 – Easington, Sunderland – with an average of £100,112, and BD3 – Barkerend, Bradford – with an average of £100,923.
You can see how much houses cost in your postcode area, and how much they’ve changed in the last 12 months by using our interactive map:
House prices fell by an average of nearly £8,000 each in the last 12 months in England and Wales.
The average home cost £361,135 in the 12 months to February.
That’s down from £369,097 in the year to February 2023, a drop of 2.2 percent, or £7,962.
Some areas saw far larger drops than others, however, with London being particularly affected.
The W1H postcode area, which covers Marylebone, had the largest percentage drop of any postcode in the country with at least 50 sales in the 12 months to the end of January.
The average house in W1H sold for £1.45 million in the last year. That’s down from £2.22 million at the same point in 2023, a drop of 34.6 percent.
In E1W, Wapping, the average price fell by 27.7 percent, going from £1.03 million to £746,981. There was a dramatic drop in the number of homes sold there as well, going from 354 sales to 104.
The SW1W postcode area, which covers Belgravia, had the next largest percentage drop in the country at 27.5 percent.
The average home there sold for £2.48 million in the year to the end of January, down from £3.42 million at the same point last year.
Brotherton in Wakefield, West Yorkshire is the country’s property hotspot. Homes in the WF11 postcode area cost an average of £243,620 in the 12 months to the end of January 2024.
That’s up by 35.3 percent compared to the same time last year, when the average was £180,105.
It’s the largest percentage increase in the country for a postcode area with at least 50 sales.
Next is EN9 which covers Waltham Abbey in Essex, where average prices increased by 34.1 percent to £596,753.
Saltburn-by-the-Sea, TS13, is next at 31.4 percent (£202,478 average), followed by CM13 at 25.1 percent (£722,900 average), and BA9 at 24.9 percent (£437,318 average).
20 Cheapest postcode areas in England and Wales
TS1 (Middlesbrough Town Centre): £68,837
DN31 (Grimsby): £74,193
TS3 (Brambles Farm): £83,838
DL4 (Shildon): £86,993
CF43 (Ferndale): £99,001
SR8 (Easington): £100,112
BD3 (Barkerend): £100,923
DL17 (Ferryhill): £104,387
TS24 (Hartlepool): £105,708
HU3 (Hull): £107,099
DN1 (Doncaster town centre): £107,967
L4 (Anfield): £108,368
BD5 (Bankfoot): £110,330
BB11 (Burnley): £110,417
FY1 (Blackpool): £110,605
NE37 (Usworth): £112,523
TS29 (Trimdon Station): £113,578
SR5 (Carley Hill): £113,668
DH9 (Dipton): £114,487
L6 (Anfield): £116,281
