From petty flatmates to nightmarish landlords, it’s no secret that renting in the UK isn’t a smooth ride at the moment.
But it’s just as difficult to get onto the housing ladder, with the average property costing £282,000 according to data from Gov UK. In London, that figure increases to an eyewatering £518,000.
All hope is not lost though, as there’s one ‘beautiful’ county where you can get on the property ladder for as little as £40,000 (£242,000 under the UK average).
Any guesses? It’s County Durham. A quick scan of Zoopla reveals there are a multitude of properties currently on sale in the region for £40,000, from the city of Hartlepool to the village of Horden.
In Horden, which operated as a mining village until the closure of Horden Colliery in 1987, two-bedroom properties are on sale for £34,950 and £39,950, while Sherburn Hill and Hartlepool have houses on offer for £35,000 and £34,950 respectively.
Interested? Here’s everything you need to know about getting on the ladder in Durham, from how much you’ll pay in council tax to things to do in the area.
As Verona Frankish, CEO of Yopa tells , prices in County Durham come in around 56% below the national average. That makes it 22% more affordable than the regional average for the North East.
But it’s not just affordability that makes County Durham a great place for aspirational homeowners, Verona insists.
‘The area has an abundance of larger homes for those looking to climb further up the ladder,’ she says.
‘In fact, one in five homes currently listed for sale is a semi-detached home with three or more bedrooms, while around a quarter are detached homes with three or more bedrooms. In many areas of the UK property market, a lack of larger family suitable homes is a key issue preventing many buyers from progressing up the ladder, but County Durham goes against the grain in this respect.’
What’s more, the area is known for its strong school system, healthcare infrastructure and safe, welcoming community, all of which, as Verona notes, are ‘attractive traits for families looking to make their move.’
Why is housing so cheap in County Durham?
As Verona explains, housing is relatively cheap in County Durham as properties are generally priced depending on local ‘earning potential.’
In the local area, statistics from InstantAtlas demonstrate that the average salary is £29,537 – which is almost the same price as some of the properties on offer.
In Horden specifically, the closure of the mines in 1987 hugely impacted both the local community and the economy, as local workers were forced to take their livelihoods elsewhere.
However, local authorities are investing time and money into regenerating the area, as seen in the Mayor’s commitment to delivering a new generation of social housing.
Earlier this year, almost £4.5 million worth of investment was confirmed for Horden alone, which will be used to build over 100 two and three-bedroom family homes – including council properties.
However, it’s not all roses, as Verona reminds us that house price affordability is relative to the ‘earning potential on offer.’
In County Durham, the average income comes in around 14% below the UK benchmark, which suggests that the affordability constraints may well remain an issue for many buyers.
‘With high rents and low house prices, County Durham has also made for an attractive place to invest for many buy-to-let investors and the conversion of larger homes to HMOs has caused some challenges within local communities,’ Verona concludes.
‘Despite this, it remains one of the most attractive markets for those looking to make their move, particularly first-time buyers.’
The average property price in County Durham comes in at £165,359 according to data from Rightmove, which might be higher than the £40,000 homes currently available elsewhere, but it’s still markedly under the UK average.
Over the last year, terraced properties have come in cheaper too, averaging a sell price of £107,495, while semi-detached properties have sold for an average price of £156,827.
But it’s not just house prices that you’ll need to consider: there’s also council tax. Rates vary depending on the borough and the property value, but in the City of Durham, band A comes with rates of £1,589.41 per year, while the highest band, H, necessitates a rate of £4,768.22.
Elsewhere, in Horden, band A costs £1,796.43 per year, while band H comes at a rate of £5,389.28 – higher than the top price for the City of Durham.
Thinking about getting around in the area? County Durham is well-served by the local buses, as services are operated by the likes of Arriva North East, Go North East, and JH Coaches.
Durham itself is a hub of public transport, with direct trains to London taking just under three hours.
Here, there are also connections to Newcastle in the neighbouring county of Tyne and Wear, with the journey taking just 12 minutes and tickets available for as little as £3.80.
Things to do in County Durham
Thinking of moving over? There’s no shortage of things to do in County Durham, from Durham Castle to Forest-in-Teesdale.
If you’re looking to try a spot of stargazing, there are 12 dark sky discovery sites in the Durham Dales alone.
Want to look at the cosmos in more detail? The Grassholme Observatory overlooks the Teesdale Grassholme Reservoir and has everything you could ever need to capture the perfect dark sky shot.
County Durham is also home to the Durham Heritage Coast, offering 11 miles of trails with ample opportunity to gaze out at the coastal views, including the limestone cliffs and surrounding wildlife.
If you’re into history, there’s also the Faith Museum in Bishop Auckland, which documents the last 6,000 years of religion in the UK through around 250 historical artefacts found across England, Scotland and Wales.
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