Getting onto the property ladder has been challenging for many years, but the cost of living crisis is making it even tougher these days - and the fluctuating house prices and interest rates doesn't help either.
Latest figures from the Land Registry show that the average Birmingham house price in December last year was £228,877. First-time buyers in Birmingham spent an average of £200,700 on their property – that is actually £5,500 less than a year ago, but £34,200 more than in December 2018, according to the data.
For people wanting to buy their first home during a cost-of-living crisis, the price of property in their chosen area will be a key factor to consider. So which parts of Birmingham have the most affordable homes?
Well, the latest house price data from the Office for National Statistics (ONS), show the neighbourhoods in the city that have the cheapest house prices. The latest ONS data for small areas (Middle Layer Super Output Areas) is from March 2023.
Here we reveal the 16 cheapest neighbourhoods to buy a property according to the latest data. Let's take a look.
1. Saltley West
The average house price, as of March 2023, is £140,000
2. Winson Green & Gib Heath
The average house price, as of March 2023, is £142,000
3. Lozells East
The average house price, as of March 2023, is £147,500
4. Aston Park
The average house price, as of March 2023, is £150,000