Estate agents cite affordable north-east
Tue 7th Aug, 10:30:16 BST
House prices in the north-east of England are significantly below the UK average, estate agents in the region have reported.
With the average cost of a home in the UK now heading towards the £200,000 mark, first-time buyers are finding it increasingly difficult to get a foot onto the property ladder.
However, houses in the towns of Grimsby and Cleethorpes can cost around £70,000 and the local estate agents Humberstone and Partners has experienced an increase in the number of people buying a home without having viewed it first.
Compared to the UK average of £192,314, the average house price in Grimsby now stands at £126,919, the firm revealed.
While cheap properties are still available in the area, estate agents claim that they would need significant amounts of renovation work, while wages in the region are lower than those in a major town or city.
According to research from Abbey Mortgages, the average first-time buyer now takes out a loan of £130,000, up from £75,000 in 2003.
With the average cost of a home in the UK now heading towards the £200,000 mark, first-time buyers are finding it increasingly difficult to get a foot onto the property ladder.
However, houses in the towns of Grimsby and Cleethorpes can cost around £70,000 and the local estate agents Humberstone and Partners has experienced an increase in the number of people buying a home without having viewed it first.
Compared to the UK average of £192,314, the average house price in Grimsby now stands at £126,919, the firm revealed.
While cheap properties are still available in the area, estate agents claim that they would need significant amounts of renovation work, while wages in the region are lower than those in a major town or city.
According to research from Abbey Mortgages, the average first-time buyer now takes out a loan of £130,000, up from £75,000 in 2003.
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