The UK seaside town where you can buy a house for £22.5k as prices drop dramatically | United Kingdom | News

Data has revealed that a UK seaside town is among the cheapest places to buy a house in the UK.

Hartlepool, County Durham, sits on a limestone peninsula which provided shelter for its fishing port.

It benefited from funding from the medieval prince-bishops of neighboring Durham, who granted it its charter in 1201.

In Victorian times Hartlepool became a port for the Durham coalfield and exported coal and imported mine props.

In 1847 West Hartlepool Wharf was added and a new town built next to it. The colony grew rapidly thanks to steelmaking and shipbuilding.

Nowadays these industries have declined and the port of Hartlepool is mainly occupied by servicing the North Sea oil fields.

The city also has a chemical industry.

Movement to the right states that a three-bedroom terraced house in Sheriff Street was sold in March for £22,500. It is unknown whether it was sold at auction.

Several terraced homes also cost £25,000.

Excluding auctions, three-bedroom houses are currently on sale for less than £50,000 in Carlton Street, Dent Street and Borrowdale Street.

The Office for National Statistics says the city is the third cheapest place to buy a house.

The average property price is £133,000.

The only places cheaper in September were Burnley (£113,000) and Hyndburn (£129,000).

But the cost of housing in these areas is rising. The annual percentage increases were 3.5 percent and 2.5 percent, respectively.

In Hartlepool there was a fall of 0.4 per cent.

The Country Durham as a whole isn’t much more expensive (£134,000).

The region saw a 4 percent price increase.

Rightmove sees things slightly differently. The company states on its website: “House prices in Hartlepool have an overall average of £146,018 over the last year.

“The majority of properties sold in Hartlepool over the last year were terraced properties, selling at an average price of £89,851. Semi-detached properties sold for an average of £150,964, with detached properties selling for £259 £128.

“Overall, historic sales prices in Hartlepool over the last year were down 6 per cent on the previous year and 3 per cent on the 2021 high of £150,913. “