Only 12 per cent of homes on the market across Great Britain are priced below £150,000, according to new analysis from Zoopla. But for landlords and investors, pockets of affordability still exist—chiefly in the North East and Scotland—where half of all listings in certain towns fall under the £150k threshold, offering attractive yields and entry-level buy-to-let opportunities.
Northern towns offer scale and yield
Sunderland tops the affordability table, with 49 per cent of homes listed at £150,000 or less. Aberdeen follows closely, also at 49 per cent. Both markets combine low purchase prices with strong rental demand, particularly from students and young professionals. Blackpool and Darlington also stand out, with nearly four in ten homes available in this bracket, presenting what landlords see as a clear opportunity to diversify portfolios at lower capital cost.
Richard Rowntree, managing director of mortgages at Paragon Bank, said: “Regional markets like Sunderland and Aberdeen remain attractive for landlords looking to achieve higher rental yields. While prices are low, tenant demand is consistent, particularly for family homes and HMOs.”
For comparison, London offers just 2 per cent of homes under £150k, largely small one-bedroom flats in Croydon, many through shared ownership schemes—a stark contrast that underlines why investors are increasingly turning north.
Data snapshot: Where landlords can still buy for under £150k
- Sunderland (North East): 49% of homes under £150k
- Aberdeen (Scotland): 49% of homes under £150k
- Blackpool (North West): 39% of homes under £150k
- Darlington (Yorkshire & Humber): 38% of homes under £150k
- Swansea (Wales): 19% of homes under £150k
- Croydon (London): 7% of homes under £150k
(Source: Zoopla Research 2025)
Houses up north, flats down south
The type of property on offer shifts dramatically by region. In the North East and Wales, more than 60 per cent of sub-£150k listings are two or three-bedroom houses—ideal stock for landlords targeting families. Swansea, for instance, still has family homes available below this price point, making it an outlier for affordability in a popular coastal market.
By contrast, in the South East and East of England, flats account for over 70 per cent of affordable listings. In London, 64 per cent of homes under £150k are one-bedroom flats, half of which are shared ownership. As Zoopla’s consumer expert Daniel Copley noted: “Affordability doesn’t just mean a low price tag; it also means more choice. The north provides both, while the south offers limited and often less flexible stock.”
Landlords weigh affordability against policy pressure
For landlords, the affordability divide raises questions not only about yields but also about long-term policy. Ben Beadle, chief executive of the NRLA, has observed: “It also seems that investors are moving away from London and the south east to invest in the Midlands and the north, where, while average rents are generally lower, property is cheaper and yields better.”
Local letting agents echo this shift. Jane Thompson of a Darlington lettings firm told us: “We’re seeing more landlords from the south buying here. They’re attracted by three-bedroom houses for under £150,000, which still let quickly at over £800 a month.”
That’s a rental yield approaching 6–7 per cent—levels rarely seen in London or the South East unless landlords take on high-risk HMOs or expensive refurbishments.
Editor’s view
The affordability map underlines a growing reality: landlords searching for viable buy-to-let investments are being pushed north by both price and policy. The government’s regional levelling-up rhetoric may sound hollow, but in practice, investors are the ones driving fresh demand in Sunderland, Aberdeen and Blackpool.
