Data: You can still buy a home in Britain for under £150,000

There are still homes listed for £150,000 or less, with 12 per cent falling into this category, data shows. With many buyers buckling under the pressure of high living and mortgage rates , tracking down an affordable home in a desirable location is increasingly challenging. Buyers seeking a bargain should head to Sunderland in the North East, where nearly half of properties for sale are priced at £150,000 or under, Zoopla said.

Aberdeen in Scotland is another hotspot for sub-£150,000 properties, with 49 per cent of listed homes up for grabs for £150,000 or less. Darlington came in third place in Zoopla’s rankings, with around 600, or 38 per cent of homes listed for £150,000 or under. Blackpool, Swansea, Lincoln, Wolverhampton, Plymouth and Peterborough also made it to the top 10 affordable hotspot list. In the North East, 41 per cent of all homes for sale are listed for £150,000 or less, while across Scotland, the figure, while still high, drops to 30 per cent.

In London, just two per cent of properties listed are on sale for £150,000 or under, rising to 7 per cent across the South East. Amid a dearth of affordable homes across London and the South East, Croydon stands out as a better option for buyers on a budget. In Croydon, 7 per cent of listed properties are £150,000 or less, Zoopla said. Daniel Copley, consumer expert at Zoopla, said: ‘The North East and Scotland are clear hotspots for budget-conscious buyers, with a significant proportion of homes for sale priced under £150,000.

‘In these areas, affordability doesn’t just mean a low price tag; it also means more choice.’ Nathan Emerson, chief executive of Propertymark, said: ‘Buyers who are able to approach their next home move with a greater level of flexibility can reap the rewards of relocation to more popularly priced areas of the country.’ He added: ‘With improved transport links being introduced across the country and flexible working arrangements in place from many employers, more people should hopefully find themselves in a position to enhance their quality of life and relocate to suit their social and professional needs. ‘Areas such as Sunderland can also be popular due to its combination of coastal living with vibrant city life.’

The type of property you can buy for your money varies significantly across Britain. Getting even a one-bedroom flat in London for £150,000 is almost unheard of. In the North East and Wales, buyers can find a relatively high proportion of two and three-bedroom houses listed for £150,000 or less. ‘This provides more options for families and those looking for more space’, Zoopla said. In Swansea, Wales, over a third of its affordable listings are three-bedroom houses. Meanwhile, in the south of England, the affordable market is dominated by flats.

In London, for example, 64 per cent of all homes under £150,000 are one-bedroom flats, with half of these listings being shared ownership properties. This trend is also evident in the South East and East of England, where flats account for more than 70 per cent of affordable listings. The data magnifies the challenges faced by first-time buyers or those on a tight budget to get on or move up the property ladder in London or the South East of England. In locations like Portsmouth and Peterborough, flats are the most common affordable option, reflecting the high demand and limited land supply in these densely populated areas, according to the research.

Michael Zucker of north London estate agent Jeremy Leaf & Co, told the Daily Mail: ‘As average property prices increase generally, there is less available at lower price points. ‘In terms of looking somewhere cheaper, it is all very well getting better value by being flexible on location but that is difficult if travel time and costs to work, friends and family become onerous as a result. ‘Many people are not prepared to move to a different area where they have no social network or links. Properties are sometimes cheaper because they are too isolated or in a not-so-salubrious area.’

Ministers met mortgage lenders this week to discuss plans to make it easier for people to get on the housing ladder , including by enabling them to take out bigger mortgages. Earlier this year, reforms loosened restrictions so that mortgage lenders could offer loans of between five to six times someone’s annual salary to a greater number of customers. Borrowing is usually limited to 4.5 times salary. The Financial Conduct Authority is also simplifying mortgage lending rules such as affordability checks.

1. Three-bed terraced house, Sunderland, £145,000: This three-bedroom terraced house in Grangetown, Sunderland, is on sale via Good Life for £145,000. The spacious and light property has a sizeable back garden, featuring a patio area and artificial lawn.

2. Two-bed terraced house, Aberdeen, £135,000: This two-bedroom end of terrace house is on sale via Northwood for £135,000. The property benefits from parking for residents and overlooks the King’s Links golf course and beach boulevard.

3. Three-bed terraced house, Darlington, £125,000: This three-bedroom terraced house in Darlington is on sale via Venture Properties for £125,000. The house has ample space inside and its interior has been finished to a high standard, making it ready to move straight into.