Every city could be described as a city of contrasts. Whether this is about access to amenities or facilities, proximity to good or bad schools, or in this case, differences between the most affordable and least affordable areas to live.
Sunderland has a reputation as being one of, if not the, most affordable places to live in the whole of the UK. But just because it is affordable does not mean that there are not huge disparities between the most desirable areas and Sunderland’s cheapest postcode. There are places in and around Sunderland that can cost significantly more than the local average and properties that cost significantly less than the national average too.
Let’s take a deeper look into the Sunderland property market and explore Sunderland’s most and least affordable postcodes.
Where is the best area to live in Sunderland?
‘Best’ depends on your budget. If you are looking at the higher end of the market, then some of the best areas could include:
- High Barnes: The area provides easy access to the perks of city life and has several excellent schools close by.
- Seaburn: Ideal if you want to live by the seaside whilst still being close to the city centre.
- Queen Alexandra Road: Frequently featured on lists of Sunderland’s most coveted neighbourhoods, here you’ll find lots of desirable properties that stretch even the biggest of budgets.
- Middle Herrington: Perfect for active families, Middle Herrington is situated near Herrington Country Park, a popular destination for family outings, dog walks, and cycling.
If you are however looking for bargains, or areas to invest in before they get too pricey, it is worth checking out areas such as:
- Seafront: Sunderland’s seafront is undergoing significant regeneration and development.
- Riverside Quarter: Located on the south bank of the River Wear, the Riverside Quarter is an area of significant regeneration and growth.
- Sunderland Enterprise Park: This is an excellent location for long-term property investment, with plans to expand the park to accommodate more businesses and create additional job opportunities.
What is the most expensive area in Sunderland?
However, when it comes to the most exclusive and high-priced neighbourhood in Sunderland, West Park Road in Cleadon takes the top spot. On average, properties here go for a little over £1m each. Millionaire’s row indeed!
The majority of the top ten most expensive areas in Sunderland are clustered in and around the Whitburn and Cleadon areas. Moor Lane witnessed the sale of six properties, commanding an average price of £728,583, while Underhill Road featured three properties with an average selling price of £712,925.
It’s no wonder. Both Whitburn and Cleadon are favourites with local footballers and celebrities. These areas boast spacious residences and gated communities, ideal for VIPs who want to stay true to their local roots but also enjoy a bit of privacy.
Is Sunderland a cheap place to live?
Is anywhere truly cheap these days?! Sunderland is indeed an affordable place to live when compared to the likes of London though, no question. To put it into perspective, maintaining a similar standard of living that would require £6,000 in London would ‘only’ require around £3,200 in Sunderland (assuming you’re renting in both cities). Here’s the breakdown:
- Consumer prices in Sunderland are 29.2% lower than in London, excluding rent.
- When rent is factored in, consumer prices in Sunderland become 45.7% lower than in London.
- Rent prices in Sunderland are 67.4% lower than in the capital.
- Dining out is also more budget-friendly, with restaurant prices in Sunderland being 38.1% cheaper.
- Even your grocery shopping will be more cost-effective, as groceries in Sunderland are 21.4% cheaper than in London, although, with inflation of 6%, this will only increase over the coming months.
Moreover, Sunderland has been recognized as one of the UK’s most budget-friendly cities for homebuyers, according to Halifax.
This ranking is based on the comparison of average house prices and wages across the UK. Sunderland secured an impressive 11th place, boasting an average house price of £179,567, which is approximately six times the average wage of £29,745 in the city. In contrast, buying a home in a UK city typically requires more than eight times the average earnings, driven by a significant 10.3% increase in property prices over the past year.
As we can see, Sunderland offers a cost-effective and attractive living option compared to London, making it a favourable choice for those seeking affordability without compromising on quality of life.
Sell to We Buy Any Home
If you’re considering buying or selling property in Sunderland, whether in the cheapest or most expensive areas, look no further than We Buy Any Home. We know the local area and we specialize in purchasing Sunderland properties. With a pool of investors standing by, we’re always on the lookout for new opportunities. What sets us apart is our ability to:
- Provide a free cash offer within minutes.
- You can receive the funds you need in just 7 days, guaranteeing a swift and secure sale for any property, no matter if you want to sell flat fast and with tenants in situ.
- As the UK’s leading home-buying company, we take pride in our commitment to fairness and honesty in every transaction. We can be trusted, unlike many other cash-buying companies.
- We strive to offer the best possible price for every property we purchase, ensuring both our workforce and clients are content and satisfied.
- Although you may not get the market value, we cover all legal costs, and we don’t charge you any commission.
So, whether you’re selling or buying in Sunderland, choose We Buy Any Home for a reliable, efficient, and stress-free property solution.