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Revealed: The cheapest place to buy a home in the UK

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22/11/2017
Revealed: The cheapest place to buy a home in the UK

It’s a busy northern city within striking distance of the commercial centre of Leeds, but Bradford is the cheapest place to buy in the country – with the average cost of a one-bedroom flat only £57,400, according to Moneysupermarket.com.

The average cost across all properties in the city was £140,832, while a six-bedroom house in the city was £163,500 on average, compared to £7m in central London.

In fact, the capital is so expensive that for the price of a one-bedroom flat in London – £1,127,500 – you could buy a six-bedroom house in virtually any other city in the UK, with the exception of Birmingham.

Hull is the second cheapest place to buy with an average overall cost of £160,397, followed by Sunderland where buyers pay £176,000 for an average home and just £65K for a one-bed flat.

Best for bills

Factoring in the costs of home insurance and utility, broadband and council tax bills, Moneysupermarket.com discovered not only the best value place to purchase a home, but also the most cost-effective locations to live in terms of monthly costs.

Southampton proves to be the most cost-effective city to live in the UK, with monthly bills coming to £218.48 on average, including home insurance.

At the other end of the scale, Swansea is the most expensive city for bills, costing a considerable £510.41 per month, despite the average house price being one of the lowest of the cities included.

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