2 Bedroom Middlesbrough or 2 Bedroom Dagenham.

February 15, 2016

There has always been a North and South divide and this is of course not just in terms of football… House prices have also been very wide apart, though with increasing prices in London this is surely at a level which was never the case before?

Of course, if we compare a detached residential property in Mayfair with a one bedroom flat in an ex mining village in Wales, then we will see a difference in figures that a pocket calculator would not hold… But I have picked two property on Rightmove, one North and the other South, very similar in location ie a major town, same sized and similar style of property and neighbourhood. Both nice property and ideal for first time buyers, young family or for retired couples etc.

Comparing both with a 15 year mortgage, first we have this two bedroom terraced in South Bank, Middlesbrough coming in at £17,500. A monthly repayment of £118 and a deposit of 10%, ie £1,7500.

or 16 times more expensive price and 16 times more expensive in monthly mortgage payments in a similar location, ie prominently ex-council property estate is this:

Both are close to major towns, though of course the property in Dagenham is close to London which is the Holy Grail it would appear for everyone… But the property in South Bank is still only 2.5 miles from a major town, Middlesbrough, has the same local amenities, though of course employment situation may be slightly different both in availability of work and average salary. If you have a business online though, and you are not precious on living near to London, the divide in prices in immense.

We have not looked at prices in between though which at some point will meet in the middle, not sure how far North / South you’ll be required to travel to get that ‘middle price’.

Land Registry, House Price Index 29th January 2016 report.

Christopher Walkey

Founder of Estate Agent Networking. Internationally invited speaker on how to build online target audiences using Social Media. Writes about UK property prices, housing, politics and affordable homes.

You May Also Enjoy

Home and Living

How homeowners can fight back against rising energy bills

New research from Yopa warns that millions of homeowners are set to be hit with a 14% jump in energy bills this summer, wiping out recent savings and piling fresh pressure on household finances. In response, Yopa has analysed which home improvements are most effective at reducing energy use, looking at both the typical savings delivered…
Read More →
Breaking News

Homes selling as fast as last year

First time buyers in outer London hit hardest as higher borrowing costs and  high stamp duty costs weigh on sales times   The average time to sell a home is just 1 day longer than last year at 33 days, despite higher mortgage rates and 2 months of conflict in the Middle East However, areas…
Read More →
Estate Agent Talk

How to Pick the Ideal Utilities for your Business

Sorting out utilities might not be the most exciting part of running a business, but it is one of those things that quietly affects everything else. Whether it is your electricity, gas, water or internet, these services keep your business moving day to day. Getting them right can help you stay in control of costs…
Read More →
Letting Agent Talk

Advice for London landlords and tenants ahead of the Renters’ Rights Act implementation

Phase one of the Renters’ Rights Act (RRA) comes into force on 1 May 2026, and with it brings about the most significant overhaul of the private rental sector in a generation. While the Act will see new responsibilities introduced, it will also offer an opportunity for landlords to strengthen their practices with a clear…
Read More →
Estate Agent Talk

Budget-friendly ways to boost your chances of a successful spring house sale

With many households feeling the pressure of changing global economic conditions, tighter finances, and the high costs associated with moving, such as Stamp Duty, legal fees and removals, selling a home can currently feel like challenge. At the same time, spring traditionally brings a surge in buyer activity. Longer days and better weather tend to encourage more viewings,…
Read More →
Letting Agent Talk

Expert Reacts To Renters’ Rights Act Ahead of Changes This Week

The Renters’ Rights Act comes into force this week (1st May), introducing major reforms to tenancy structures, eviction rules, and tenant protections across England. The changes will reshape how landlords manage properties and how tenants experience private renting, with significant implications for student private rentals and the wider rental market. Ahead of implementation, Owen Dixon,…
Read More →