Do you live in the UK? Are you in the market for a new home? Is budget a major consideration during your home search? If so, then there is no doubt that you’ve probably already started to narrow down the list of potential locations, zeroing in on those places that are known for affordable options. Keeping the price of the home down means you’ve got more money left for other household expenses, necessities, entertainment, and potentially a little extra that you can put away.
To make your search process smoother and faster, we’ve gone ahead and put together a list of the three most affordable places to buy a home in the UK.
Orkney
While Orkney may not be the first location to pop into your head, the facts are, the statistics don’t lie. In terms of pricing, an average home in Orkney will come in at about 5.2 times the typical pre-tax annual local income. That’s much lower than the national average which sits at 7.2 times the average annual pre-tax income. Just think how far that saving can take you.
Buildings insurance provider deacon.co.uk actually highlights Orkney in an in-depth blog that takes a look at housing across the UK, placing Orkney at the top of the list as “the best place to live in the UK”, thanks to stats from a recent survey.
Other notable facts about Orkney include the fact that it ranks high in terms of health, education, the labour market, the environment, quality of life, leisure options, and wellbeing. Additionally, it reports low crime rates, high employment levels, and smaller primary class sizes – which is even more important during these times.
Richmondshire in North Yorkshire
Another notable location for those on the hunt for affordable places to set down roots is Richmondshire in North Yorkshire. It has been ranked the second most affordable place to live in the UK and the “best place to live in England”. Again, you can point to many of the same fabulous features such as affordable house prices in comparison to high-end areas like London, less traffic to deal with while out on the roads, low crime rates, and a high quality of life.
Residents also point to the fact that there are so many pubs in the area – much higher than normal in fact, when you do a proportion to population size metric. This translates to entertainment and dining, which for many people are high on the list of wants and needs.
Westminster
Then we have Westminster, which isn’t quite as affordable as the other two locations in the UK but is still much lower than the average town or city. It’s also a great place to choose for those who appreciate history and historical looking streets as you’ll find no shortage of early Georgian homes here. It’s also home to some of the most iconic architectural features in all of England.
You’ve Got Options
The good news is that when it comes to affordable places to buy a home in the UK, you do have options, many of which could provide you with the exact lifestyle you’re after.
