New research shows where in the UK it is possible to find a home below the national average price of £200,000 but in areas where there has also been storing price growth in recent months.
Liverpool’s central L1 postcode is the top affordable area on the up, having seen a property price increase of 41.2% in the last year. An average property increased in value from £85,000 between December 2011 and November 2014, to an average of £120,000 for the year to November 2015.
The analysis of Land Registry data by consumer organisation Which? Mortgage Advisors, also shows that second and third were ‘LL27 in Conwy North Wales and BD1 in Bradford, just east of the city’s University.
Average property prices in these postcode areas increased by 37% and 36% respectively. In LL27 the average property price rose from £135,000 between 2011 and 2014, to £185,000, and in BD1 they rose from £42,000 to £57,000. Despite the significant increase in average property prices in these areas, they remain under the national average.