The DN31 postcode area of Grimsby is the third cheapest place to buy a house in the UK, new data has revealed. According to the government's latest house price index data, houses in the
UK cost an average of £282,000, a decrease of 0.6 percent compared to last year. This means that the average property costs eight times the average salary. But in some neighbourhoods, the average price of a house is much lower - including Grimsby. READ MORE: Families in northern Lincolnshire to receive increased Child Benefit payments from this week East Marsh community hub's plea for help as cost of living funding that feeds families stops In the DN31 postcode, the average price of a house in the 12 months to February 2024 was £75,147 - a reduction of £17,000 compared to last year, and more than £200,000 below the national average. The postcode was one of just ten areas in the entire country where homes sold for an average of less than £100,000 and had more than 20 sales in the last year, according to Land Registry data. Even cheaper than DN31 in Grimsby was the TS1 postcode area, which covers Middlesbrough town centre. There, homes sold for an average of £70,560 over the last 12 months. In the BD1 postcode area, covering Bradford city centre, properties sold for an average of £74,686. The figures were compiled by Reach plc following exclusive analysis of Land Registry data (Image: SWNS) The average cost of a house in other local postcodes is as follows: DN32 - Grimsby Average price 12 months to February 2024: £130,002.90 Average price last year: £123,491.60 Annual change: 5.27% DN33 - Grimsby Average price 12 months to February 2024: £172,475.20 Average price last year: £191,208.70 Annual change: -9.8% DN34 - Grimsby Average price 12 months to February 2024: £142,719.60 Average price last year: £147,529.20 Annual change: -3.26% You can find out the average price of properties in your neighbourhood by using our interactive map: