Zoopla: 12% of UK homes for sale priced at £150,000 or less as North East and Scotland emerge as hotspots

Around 12% of homes listed for sale in Britain are priced at £150,000 or less, with the greatest concentration of budget properties in the North East of England and parts of Scotland, property website Zoopla said.

Zoopla's analysis identified Sunderland as the top location for bargain buyers, where nearly half of homes for sale are listed at £150,000 or below. Aberdeen in Scotland ranked similarly, with 49% of listed properties at that price point, and Darlington in Yorkshire and the Humber followed with about 38%. Other towns and cities appearing in Zoopla's top 10 affordable hotspots included Blackpool, Swansea, Lincoln, Wolverhampton, Plymouth and Peterborough.

Regionally, 41% of homes on the market in the North East are listed for £150,000 or less, while the figure across Scotland stands at about 30%. By contrast, only 2% of properties advertised in London fall into that category and 7% in the South East. Croydon was highlighted as a comparatively affordable part of London, where 7% of listings are under £150,000.

The type of accommodation available at the sub-£150,000 level differs markedly by region. In London, 64% of listings at that price are one-bedroom flats, and about half of those are shared-ownership units. Flats also dominate the affordable stock in the South East and the East of England, where they make up more than 70% of listings priced at £150,000 or lower. In parts of the North East and Wales, buyers can still find a meaningful proportion of two- and three-bedroom houses at that price point; in Swansea, more than a third of affordable listings are three-bedroom homes, Zoopla said.

"The North East and Scotland are clear hotspots for budget-conscious buyers, with a significant proportion of homes for sale priced under £150,000," Daniel Copley, consumer expert at Zoopla, said. "In these areas, affordability doesn't just mean a low price tag; it also means more choice."

Nathan Emerson, chief executive of trade body Propertymark, said buyers prepared to be flexible about location can benefit from lower prices and improved choice outside the most expensive regions. "With improved transport links being introduced across the country and flexible working arrangements in place from many employers, more people should hopefully find themselves in a position to enhance their quality of life and relocate to suit their social and professional needs," he said.

Zoopla's report included property examples available at or below £150,000. A three-bedroom terraced house in Grangetown, Sunderland, was listed at £145,000, marketed as having a sizeable back garden with a patio and artificial lawn. A two-bedroom end-of-terrace property in Aberdeen was listed at £135,000, with resident parking and views over the King's Links golf course and beach boulevard. In Darlington, a three-bedroom terraced house advertised at £125,000 was described as finished to a high standard and ready to move into.

The data underlines the difficulties facing first-time buyers and those on restricted budgets in higher-priced areas such as London and the South East, where affordable stock is heavily weighted towards smaller flats and shared-ownership arrangements. The shortage of cheap family-sized homes in the south contrasts with the greater availability of larger, low-priced houses in the North East and parts of Wales.

Policy changes and lender practices may affect access to these lower-priced properties. Ministers have met mortgage lenders to discuss measures intended to improve mortgage availability, including expanding eligibility for loans that are five to six times a borrower's annual salary. Earlier reforms loosened restrictions so more customers can be offered such multiples; borrowing was traditionally capped at about 4.5 times salary. The Financial Conduct Authority is also reviewing and simplifying mortgage-lending rules, including affordability checks.

Industry advisers and lenders counsel prospective buyers to explore mortgage options early. Those whose fixed-rate deals are ending, buyers exchanging contracts, and buy-to-let landlords have been advised to compare rates, consider speaking with a mortgage broker and, where appropriate, secure a future rate in advance. Brokers can help borrowers compare deals and identify products that match loan size, home value and term requirements, but the FCA and lenders warn that mortgage terms and conditions vary and that borrowers should not overstretch their budgets.

Zoopla's findings provide a snapshot of the existing market rather than a forecast. They show that while sub-£150,000 houses are increasingly rare in the south of England and in London, substantial numbers remain on the market in other parts of the UK, offering greater choice for buyers willing to relocate or prioritise different property types.