The cheapest Surrey postcode to buy a home which is still £100k more than UK average

Nowhere in Surrey had an average house price that was equal to or less than the UK average

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David Dubas-Fisher

05:00, 5 APR 2024

Ash Street in Ash - The GU12 postcode was found to have the lowest average house prices in Surrey and covers Ash and Ash Vale as well as part of Aldershot in Hampshire

The cheapest area to buy a home in Surrey has been named in the latest data. Houses in the UK cost an average of £282,000, according to the government’s latest house price index data. That’s a decrease of 0.6% compared to a year earlier.

However, in Surrey, nowhere had an average house price that was equal to or less than the UK average. The postcode area in Surrey with the cheapest average house price in the 12 months to 29 Feb 2024 was GU12. This covers the areas of Ash, Ash Green, Ash Vale and Aldershot (which is just over the border in Hampshire).

In these areas, the average home sold for £382,907. This means that the Surrey postcode with cheapest average price is still 36% more than the cheapest average postcode nationally.

These areas have consistently shown to be the cheapest in recent data. When SurreyLive spoke to estate agents about this they said the villages of Ash and Ash Vale in the GU12 postcode have established themselves as attractive to families who have stayed in the area for decades as well as newcomers brought in by newbuilds and regeneration.

“It’s one of those areas, it’s very much a community." an estate agent said, "Value for money is definitely something you get here. You can have a good period of sustainability here and enjoy a good lifestyle.” You can read more about these areas here.

The next cheapest average was in Bagshot, where the average price in the past 12 months was £417, 712; which is a 48% increase on the UK national average.

The most expensive postcode in Surrey based on average price 12 months to 29 Feb 2024 was in Cobham. Here, homes sold for £1,363,893. This is an increase of 7 per cent compared to last year. 126 homes sold in Cobham in the last year. Next most expensive was Virginia Water, Wentworth, Esher, Claygate and then Hinchey Wood. However, according to the data, the average price in Virginia Water and Wentworth (GU25 postcode) has actually decreased by 50 per centre since last year (down from £2,397,957 to £1,195,261).

You can find out the average price of properties in your neighbourhood by using our interactive map:

On a national scale, house prices continue to fall across the UK, there are seven areas where homes typically cost less than £100,000 each. It means the average home costs eight times the average salary. But in some neighbourhoods, prices are much lower.

The TS1 postcode area - which covers Middlesbrough town centre - has the lowest average house price of any postcode area to have had at least 20 property sales in the last year. Homes there sold for an average of £70,560 over the last 12 months. That’s actually a 4% increase from the previous year when they sold for an average of £67,535 each.

The BD1 postcode area - which covers Bradford city centre - was the next cheapest place to buy a home. The average house there sold for £74,686. Again, this was an increase from the previous year’s average of £71,975.

The DN31 postcode area - Grimsby - had the next lowest average at £75,147. That’s followed by TS3 - Brambles Farm - at £83,975, DL4 - Shildon in County Durham - at £88,197, CF43 - Ferndale in South Wales - at £98,682, and BD3 - Barkerend in Bradford - at £99,206.

Those are the only areas in the country where homes sold for an average of less than £100,000 and had more than 20 sales in the past 12 months.

You can find out the average price of properties in your neighbourhood by using our interactive map:

20 cheapest postcodes to buy a home in UK (minimum 20 sales)

Postcode area (Name): Average price (£)