AN entire row of five-bed houses can be bought in Middlesborough for the same price as a single studio flat in London.
In a stark example of the north-south divide, residents in the Teesside town can buy eight Grade II listed properties for just £799,950.
8 You can buy eight houses in Middlesborough for the same price as a single flat in LondonCredit: North News and Pictures
8 Spending the same amount of money in London will get you much less space to work withCredit: North News and Pictures
But for the exact same amount of money down south in Chelsea in London, buyers will find themselves with much less room.
The houses in Queens Square, Middlesborough, were originally built in the 1850s but have been used as office space for the last 20 years.
Each freehold property, if converted back into residential use, would have four to five bedrooms.
Queens Square is located in an up-and-coming area of Middlesbrough which is currently undergoing regeneration.
The entire plot is available to buy through Joe Fraser Chartered Surveyors, based in nearby Stockton-on-Tees.
In London, Dexters estate agents are offering a refurbished studio flat in the upmarket area of Chelsea for the same price.
The apartment, which is located between King’s Road and the Chelsea Physic Garden, combines a living room, bedroom and kitchenette into a single room.
The leasehold property has access to Burton Court and communal gardens to the rear of the building.
WHERE IS THE CHEAPEST PLACE IN THE UK TO BUY?Liverpool currently has 628 three-bed houses for sale at £100,000 or less – all located within five miles of the city centre, online estate agent HouseSimple has found.
It’s followed by Rotherham in South Yorkshire, which currently has 449 family homes on the market for similar amounts.
The research shows that the top 10 best value towns and cities for families are located in the north west, north east and Yorkshire.
Meanwhile, not a single town or city in the south of England featured in the top 40.
Exeter was found to offer the best value in the south sailing in at the 41th place of the list, but it has just 23 homes on the market at £100,000 or below.
8 Residents in the Teesside town can buy eight Grade II listed properties for just £799,950Credit: North News and Pictures
8 1-15 Queens Square was originally built in the 1850s for the town’s well-off residents but has been used as office space for the last 20 yearsCredit: North News and Pictures
8 These are the UK’s only major towns with at least 200 three-bed properties on sale for less than £100,000
Joe Fraser said of the Middlesborough lot: “The price is fantastic! The price reflects the need to be a developed and the developer needs to take a profit.
“If you were from another area of the country you would be saying ‘is it one property or is it the whole lot?’
“Generally speaking if this was in an affluent area of London you could easy be looking at 25 million!
“Each one of these would be maybe three million pounds.”
Sam Mitchell, chief executive of Housesimple, said: “Compared to the south, there is substantial value to be found in property markets in regions such as the north west and Yorkshire.
“Although £100,000 is at the lower end of the market, there are also plenty of substantial family houses at prices around £300,000 to £400,000, that would probably be £1million plus in and around London, and unaffordable to the majority of families there.”
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Elsewhere in the Notting Hill area of London, Hamptons International are selling a run-down one bedroom flat inside a period building for £800,000.
The lower ground floor apartment has no floorboards or fittings and is in need of complete renovation.
The flat is located near the world famous Portobello Road and has direct access to beautiful communal gardens.
Here are the £120,000 homes first-time buyers can afford without putting down a deposit.
Or if that’s too high a price tag for you, here are six homes under £50kwhere single first-time buyers only need a £2,500 deposit.
8 Each freehold property, if converted back into residential use, would have four to five bedroomsCredit: North News and Pictures
8 The entire plot is available to buy through Joe Fraser Chartered Surveyors, based in nearby Stockton-on-TeesCredit: North News and Pictures
8 A flat is on the market in Notting Hill, London, for £800k, but it needs a lot of work doneCredit: North News and Pictures
Couple’s cramped 1960s bungalow looks unrecognisable after trendy £80k makeover on Your Home Made Perfect
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