The cheapest regions to buy a home
By Emily Spaven
Posted 27th November 2011
The regions of England and Wales that have the cheapest homes have been revealed.
Does your area feature on the list?
According to the Land Registry’s House Price Index for October, the North East is the area with the lowest average house price, at £100,674.
This is a stark contrast to London, where the average property fetches £340,308.
While this might seem high, it is a 1.6% decrease on the average of £349,026 recorded in September.
Across England and Wales, the average house price is now £159,999, which represents a decrease of 3.2% from October 2010 and a drop of 0.9% compared with the previous month.
Region Monthly change (since September 2011) Annual change (since October 2010) Average price (October 2011)
East 0.7% -2.4% £173,410
East Midlands 0.4% -3.1% £123,811
Yorkshire & The Humber 0.4% -3.6% £120,526
South East 0.2% -1.4% £206,818
South West -0.4% -2.9% £171,384
West Midlands -0.7% -4.1% £129,500
England & Wales -0.9% -3.2% £159,999
London -1.6% 0.3% £340,308
North East -1.8% -7.2% £100,674
North West -2.9% -7.0% £110,425
Wales -3.0% -6.1% £115,923
