Cheapest homes in England sell for just £8,000

Cheapest homes in England sell for just £8,000

14:02 PM, 29th May 2012, About 12 years ago

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The cheapest homes in England and Wales were sold for just £8,000 in April, according to the latest Land Registry data.

Two homes sold for £8,000 out of more than 51,000 that changed hands.

One was a terraced house in Avondale Street, Colne, Lancashire – reputedly one of the cheapest streets for homes in the UK.

The other home selling for just £8,000 was a flat in Duke Street, Plymouth, Devon.

Four homes sold for less than £10,000 – the others were a £8,500 flat in Shaftesbury Avenue, Hove, Sussex, and a £8,650 semi-detached house in Lingard Road, Sutton Coldfield, West Midlands, that last sold for £119,950 in 2003.

The most expensive home was a seven-bedroom house in the exclusive The Boltons, Kensington, which sold for £54.95 million.

The next most expensive homes sold went for £13 million – one in Lyall Street, Westminster, London, and the other in Old Avenue, Weybridge, Surrey.

Eight homes changed hands for £1 million or more in April.

Other key points from the data include:

  • London returned the highest increase in average property values over the last 12 months – up 5.1%
  • Yorkshire & The Humber had the greatest annual price fall with a decrease of 5.6%
  • West Midlands saw the most significant monthly price fall with a decrease of 2.7%
  • The most up-to-date figures available show that during February 2012, the number of completed house sales in England and Wales increased by 9% to 43,331 compared with 39,670 in February 2011.
  • The number of properties sold for over £1 million in February 2012 decreased by 3% to 462 from 478 in February 2011

Overall, according to Land Registry data, April house prices were down 0.3% on March and 1% on 12 months earlier, with an average house price of £160,417.

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