Page last updated at 10:50 GMT, Friday, 3 July 2009 11:50 UK

Property for 'less than 40,000'

House keys
The survey is based on Land Registry figures

The most affordable property in some areas of England and Wales is on the market for less than £40,000, according to a survey.

The 10 cheapest streets in four regions have an average house price of between £30,000 and £40,000, said property website Mouseprice.com.

But the homes could be in areas already earmarked for demolition or compulsory purchase, the website warned.

The survey suggested a north/south divide in terms of affordability.

Findings

Low numbers of transactions and falling prices during the economic downturn have made homes more affordable for some first-time buyers.

AFFORDABILITY RANKINGS
North West England: £32,004
North East England: £33,840
Yorkshire and Humber: £36,531
Wales: £37,249
Source: Mouseprice.com

The survey suggested that one street in Wales had an average property value of £24,640.

Breaking down the figures to the 10 cheapest streets in each region revealed that the most affordable homes were in the North West of England - at an average price of £32,004.

Next came the North East of England - which was the cheapest in the same survey the previous year - at £33,840, followed by Yorkshire and the Humber at £36,531.

At the other end of the scale was London, where the 10 cheapest streets had an average property value of £99,740.

The survey was based on data provided by the Land Registry.



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