A property purchase will now set you back an average of £288,000, nine times the average full time salary, data from the Office for National Statistics (ONS) shows.
But with energy bills soaring amid a cost of living crisis, many people will be thinking of ways to cut the amount they spend on housing.
Looking for something more affordable? There are 217 neighbourhoods in England where the average home costs less than £100,000.
Horden in County Durham is the cheapest place to buy, with the average property selling for just £42,500.
And if you are looking to stay local, here are the best places to consider.
For those hoping to either get on the property ladder or downsize in Scarborough borough and Ryedale, these are the 20 cheapest places to buy a home.
The figures, sourced from the ONS using Land Registry data, shows the median price paid in each neighbourhood in the 12 months to June 2021.
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If you are looking to stay local in Scarborough borough and Ryedale, here are the best places to consider. (Photo by Matt Cardy/Getty Images) Photo: (Photo by Matt Cardy/Getty Images)
. Ramshill and South Cliff
The average property price in Ramshill and South Cliff was £120,000. Photo: Contributed
. Scarborough Town and North Bay
The average property price in Scarborough Town and North Bay was £127,000. Photo: Contributed
. Scarborough Central
The average property price in Scarborough Central was £127,500. Photo: Contributed
. Barrowcliff and Northstead
The average property price in Barrowcliff and Northstead was £138,000. Photo: Contributed
1. Ramshill and South Cliff
The average property price in Ramshill and South Cliff was £120,000. Photo: Contributed
2. Scarborough Town and North Bay
The average property price in Scarborough Town and North Bay was £127,000. Photo: Contributed
3. Scarborough Central
The average property price in Scarborough Central was £127,500. Photo: Contributed
4. Barrowcliff and Northstead
The average property price in Barrowcliff and Northstead was £138,000. Photo: Contributed