What are the most cost-effective places to reside in the United Kingdom? While it’s obvious that residing near some of the larger cities will raise your living costs, some of the housing prices available after COVID may surprise you.
If you’re seeking the cheapest places to live in UK, I’ve put together a simple guide to assist you to sort through some recent data. Finally, there are a variety of factors that influence house pricing and cost of living – and this information is subject to change – but for now, the following locations offer affordable housing for families and professionals.
Cost of Living in the UK
The cost of living in the UK varies depending on which city you live in. London is one of the most expensive cities to live in, while cities like Manchester and Liverpool are relatively cheaper.
The cost of rent is one of the biggest expenses for people living in the UK. Rent in London can be expensive, especially if you live in a central area. Manchester and Liverpool are both cheaper options for renting, with prices being around £500-£700 per month for a one-bedroom apartment.
Food is another major expense when living in the UK. Again, London is the most expensive city for food, while Manchester and Liverpool are both cheaper. You can expect to spend around £50-£60 per week on food in London, while in Manchester and Liverpool you can get by on around £40-£50 per week.
Transportation costs also vary depending on which city you live in. In London, a monthly travel pass will cost you around £150, while in Manchester and Liverpool it will cost around £80-£100 per month.
Overall, the cost of living in the UK varies depending on which city you live in. London is by far the most expensive city to live in the UK.
Main Cost Factors to Consider While Moving to a New Place
There are several main cost factors to consider when looking to move to a new area. The first is the cost of housing. It will be your biggest expense, so you’ll want to find an area with affordable housing options.
The second is the cost of living. It includes expenses like food, transportation, and healthcare. You’ll want to find an area with a low cost of living so you can save money. The third is the cost of taxes. You’ll want to find an area with low taxes to keep more of your hard-earned money.
Once you’ve considered these main cost factors, you can start looking for the cheapest places to live in UK. There are many affordable areas throughout the country. However, some of the most affordable places to live are in Northern Ireland, Scotland, and Wales.
These areas have lower costs of housing, living, and taxes than other parts of the UK. So if you’re looking for the cheapest places to live in the UK, these are some good places to start your search.
10 the cheapest places to live in UK
Do you enjoy your current residence? If you could change one thing about your current home, what would it be? The largest source of dissatisfaction for many individuals right now is affordability – or the lack thereof. Budgets can be impacted by rising housing prices, transportation costs, and the costs of trying to maintain a social life. If the concept of uprooting and relocating to a location with the lowest possible day-to-day costs appeals to you, here are the top ten options:
1) Copeland, Cumbria
Copeland is one of Cumbria’s six districts, which is one of the UK’s most beautiful natural places. It’s also one of the cheapest areas of the country, with an average house price of £114,011, which hasn’t changed much in the last year. House prices are three times the average annual wage of £37,000 – £39,000 in this area. That may seem high, but consider that the average housing price in Kensington & Chelsea is 46 times the average annual earnings. According to the Office of National Statistics’ Life Satisfaction Index, Copeland is one of the happiest locations to live in the UK.
Stirling, which was recently voted one of the most affordable cities in the UK, offers excellent value on all fronts. The average house price in this area is £132,734, which is only 3.3 times the local income. The average monthly rent in the city center is roughly £450, while monthly transit costs around £30. It’s worth mentioning that energy costs in this part of the country can be a little higher. Stirling, in addition to its affordability, boasts a rich cultural past, from Stirling Castle to the Wallace Monument, for those who are interested.
3) Burnley, Lancashire
Burnley is one of the finest areas to live in terms of affordability, with property prices averaging £75,455 on average. Burnley consistently ranks first on rankings of the cheapest property locations in the United Kingdom. It’s also only a short drive from Manchester, and it’s ranked first in the Totallymoney.com study of the greatest locations to work in the UK (based on the cost of living, salaries, and local jobs market).
4) Merthyr Tydfil, Wales
Merthyr Tydfil, with an average house price of £94,907, is a very cheap British location. A three-bedroom terraced property can be purchased for about £86,950, and Cardiff is only a short train or car ride away. A two-bedroom cottage may be rented for as little as £400 per month, while a monthly bus pass is £33. It is one of the cheapest places to live in UK.
5) Pendle, Lancashire
Pendle is a treasure trove of affordability and contentment for those seeking both. It’s a recipe for low-cost success, with the vast moorlands surrounding giving a richness of natural beauty and the average property price of just £92,663. Renting in places like Colne, Pendle, is much cheaper than in major cities — a one-bedroom flat can be had for as little as £350 per month, while monthly bus transport is roughly £43. Pendle is also home to one of Lancashire’s best schools (Laneshawbridge Primary School).
Lancaster consistently ranks among the top three most cheap British cities, although many of the most affordable UK areas are rural. The following is the house price to earnings ratio: house prices to earnings 4.03 in profit (compared to house prices 10.89 earnings in Oxford, for example). Rents can be as low as £250 per month, with an average monthly bus fare of £56.
7) North Lanarkshire
North Lanarkshire excels in many areas of affordability, including the average property price. In Shotts, in the county’s north, a two-bedroom terraced house costs around £99,950. Rent is only £54.80 per week, while the average weekly household food expense in North Lanarkshire is £54.80. North Lanarkshire has a high rate of employment, but its citizens are the least likely to be overworked – another advantage.
8) South Lanarkshire
Although slightly more expensive, the twin Lanarkshire county also offers good value for money. The average house costs £107,000, while the weekly rent is roughly £57.19. The average household spends about £54.80 each week on food. South Lanarkshire is also in a good location because it borders the outskirts of Glasgow, with all of its culture and job prospects.
9) Darlington, County Durham
Darlington is a great place to live because it’s both affordable and happy. The town is in the top ten of the Office of National Statistics’ Life Satisfaction Index, with average property values of roughly £79,000 and the town ranking in the top ten on the Life Satisfaction Index. The cost of a monthly bus pass is roughly £38 and the commutes are usually brief. Rents are roughly £67.20 per week on average while living expenditures are modest — the average household spend in Darlington is £48.60 per week, compared to £63.20 in Berkshire. It is one of the best options in this list of cheapest places to live in UK.
10) Stoke-on-Trent, Staffordshire
Stoke is competing for the UK City of Culture accolade in 2017 and has a thriving local cultural industry that spans ceramics to movies. It’s also a hotspot for affordability, ranking in the Top 10 with an average house price of £102,877. Rents as cheap as £400 per month and utilities as little as £50 per month are possible. Monthly public transportation tickets cost roughly £50.
Which part of the UK has a low cost of living?
When it comes to history and heritage, County Durham is incredibly diversified, and the best news is that it is largely the cheapest location to live in the UK.
Which part of the UK has the cheapest rent?
The North East of England has the cheapest average rent in the country, at £546 per month. It is one of the cheapest places to live in UK. (Source: HomeLet Rental Index, August 2020.) County Durham, Northumberland, Tyne and Wear, and the area historically known as Cleveland in North Yorkshire make up the North East.
Which area of the UK has cheaper real estate to buy?
The town of Immingham is one of the cheapest areas in the UK to buy a home. It’s a lovely little town with a major harbor that attracts a large number of visitors regularly. A property in this area costs roughly £119,000 on average.
We hope that this listing has opened your eyes to the opportunities for inexpensive town dwellings withinside the UK. Check again right here withinside the destiny for additional highlights at the maximum low-cost regions you could locate throughout the country. The most inexpensive locations to stay withinside the UK are usually converting as new funding and marketplace forces alternate the housing markets there.