Fewer than two per cent of homes for sale in London are priced below £150,000, figures from Zoopla reveal today.
Of all London areas, Croydon comes out top with seven per cent of homes currently for sale for £150,000 or less.
The figures are more encouraging for would-be homebuyers in every other region of Great Britain.
Top of the list, Sunderland in the North East ranks highest with 49 per cent of homes for sale for less than £150,000.
Across the North East of England, 41 per cent of homes for sale fall below this pricetag, followed by Scotland where it’s 30 per cent of homes for sale.
In the South East of England in comparison, just seven per cent of properties come in under £150,000.
The type of property available at this price point of course varies massively across the country.
In London, 64 per cent of homes for sale are one-bedroom flats, and around half of those are shared ownership properties.
In Croydon, you can currently buy a two-bedroom lower-ground floor flat in need of complete renovation for £150,000, or a 226sqft studio flat close to South Croydon train station.
In the South East and East of England, more than 70 per cent of properties available under £150,000 are flats. In the North East and Wales, however, more than 60 per cent of listings in this price range are two- and three-bedroom houses.
In Swansea, a city and county on the south coast of Wales, more than a third of the most affordable listings are three-bedroom houses, making it especially appealing for families looking for a way onto the property ladder.
In terms of other good-value hotspots, Aberdeen might be an appealing option for many. Forty-nine per cent of listings there are priced under £150,000, while, according to Zoopla, being “considered fairly safe” and having “top-notch schools and colleges”.
Other areas offering a wide choice include Blackpool in the North West, with 39 per cent of homes under £150,000, and Darlington in Yorkshire & the Humber, with 38 per cent.
In Sunderland, a three-bedroom semi-detached home with a large garden is on the market for £139,995.
In areas like the North East and Scotland, Consumer Expert at Zoopla Daniel Copley says, "Affordability doesn't just mean a low price tag; it also means more choice. We're seeing a high concentration of two- and three-bedroom houses, providing real options for families and those seeking more space.”
In London and the South, however, these statistics “highlight the major challenge for first-time buyers and those on a tighter budget”.
“While an area like Croydon can offer a good entry point into the London market, it underscores how regional wealth disparities are reshaping the property landscape, pushing buyers to look further north for true affordability and a wider range of property types.”
