Cheapest areas to buy a home and pay no stamp duty

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Stamp duty is a tax you pay when buying a property, with how much you pay depending on the property price and if you’re a first-time buyer. In England and Northern Ireland, you pay stamp duty on properties worth over £125,000 if this is your main residence – or £300,000 if you’re a first-time buyer. The threshold has now risen to £250,000 or to £425,000 for first-time buyers. The average house price now stands at £294,260 according to the latest figures from the Halifax House Price Index. However, Express.co.uk have found homes listed on Rightmove that are being sold for less than £250,000.

1. North East Lincolnshire 

The majority of sales in North East Lincolnshire during the last year were semi-detached properties, selling for an average price of £163,354. Terraced properties sold for an average of £102,616, with detached properties fetching £269,291.

Overall, sold prices in North East Lincolnshire over the last year were two percent down on the previous year and 10 percent up on the 2019 peak of £150,330.

2. Tyne and Wear 

Properties in Tyne And Wear had an overall average price of £182,533 over the last year.

The majority of sales in Tyne And Wear during the last year were terraced properties, selling for an average price of £163,193. Semi-detached properties sold for an average of £184,460, with flats fetching £121,534.

Overall, sold prices in Tyne And Wear over the last year were four percent down on the previous year and five percent up on the 2019 peak of £173,650.

3. Hartlepool 

Hartlepool is located in County Durham and takes the number one spot for cheapest house prices in the UK, according to porperty experts.

Properties in Hartlepool had an overall average price of £141,411 over the last year.

The majority of sales in Hartlepool during the last year were terraced properties, selling for an average price of £85,902. Semi-detached properties sold for an average of £149,927, with detached properties fetching £248,959.

Overall, sold prices in Hartlepool over the last year were seven percent down on the previous year and one percent up on the 2018 peak of £139,543.

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4. Blaenau Gwent

Properties in Blaenau Gwent had an overall average price of £133,620 over the last year.

The majority of sales in Blaenau Gwent during the last year were terraced properties, selling for an average price of £110,253. Semi-detached properties sold for an average of £157,040, with detached properties fetching £258,563.

Overall, sold prices in Blaenau Gwent over the last year were seven percent up on the previous year and 23 percent up on the 2019 peak of £108,885.

5. Neath Port Talbot

Properties in Neath Port Talbot had an overall average price of £157,802 over the last year.

The majority of sales in Neath Port Talbot during the last year were semi-detached properties, selling for an average price of £153,851. Terraced properties sold for an average of £118,722, with detached properties fetching £263,086.

Overall, sold prices in Neath Port Talbot over the last year were four percent up on the previous year and 16 percent up on the 2019 peak of £136,076.

Looking for a new home, or just fancy a look? Add your postcode below or visit InYourArea

6. Lancashire 

Buyers can get a lot for their money in Lancashire as properties in this area had an overall average price of £189,695 over the last year.

The majority of sales in Lancashire during the last year were terraced properties, selling for an average price of £129,918. Semi-detached properties sold for an average of £189,571, with detached properties fetching £335,309.

Overall, sold prices in Lancashire over the last year were four percent down on the previous year and eight percent up on the 2019 peak of £174,900.

7. Nottinghamshire

Moving to the East Midlands, buyers can still avoid paying stamp duty charges if they purchase a house in this area.

According to Rightmove, last year most property sales in Nottinghamshire involved semi-detached properties which sold for on average £200,338. Detached properties sold for an average price of £345,365, while terraced properties fetched £160,997.

Nottinghamshire, with an overall average price of £232,600, was similar in terms of sold prices to nearby Derbyshire (£232,238), but was more expensive than Lincolnshire (£220,790) and cheaper than Leicestershire (£279,317). The priciest area within Nottinghamshire was Bradmore (£637,500) and the least expensive was Shirebrook (£140,108).

During the last year, sold prices in Nottinghamshire were similar to the previous year and 16 percent up on 2019 when the average house price was £200,138.

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