Cheap property can be an excellent opportunity for property investors. Cheap property can mean lower outlay (and lower stamp duty!), lower mortgage interest costs and to some extent less risk.

To guide you towards those cheap property investment opportunities here are the 15 cheapest property locations in England and Wales according to Land Registry data, January 2016.

Barnsley
Current average property price in Barnsley: £85,252
Annual price change: -3.7%

Blackburn with Darwen
Current average property price in Balckburn with Darwen: £70,013
Annual price change: -1.7%

Blackpool
Current average property price in Blackpool: £79,520
Annual price change: -0.2%

Blaenau Gwent
Current average property price in Blaenau Gwent: £63,434
Annual price change: 1.6%

Durham
Current average property price in Durham: £77,990
Annual price change: None

Hartlepool
Current average property price in Hartlepool: £71,874
Annual price change: -2.5%

Hull
Current average property price in Hull: £72,642
Annual price change: 5.6%

Merthyr Tydfil
Current average property price in Merthyr Tydfil: £62,437
Annual price change: -0.7%

Middlesbrough
Current average property price in Middlesbrough: £76,351
Annual price change: -0.7%

Neath Port Talbot
Current average property price in Neath Port Talbot: £83,956
Annual price change: 1.7%

North East Lincolnshire
Current average property price in North East Lincolnshire: £84,099
Annual price change: 1.7%

Oldham
Current average property price in Oldham: £84,063
Annual price change: 3.7%

Rhondda Cynon Taff
Current average property price in Rhondda Cynon Taff: £77,203
Annual price change: 1%

Stoke On Trent
Current average property price in Stoke On Trent: £73,041
Annual price change: 5%

Sunderland
Current average property price in Sunderland: £83,145
Annual price change: -2.8%

Here’s an article which looks at why some of what seem to be the worst locations can actually offer the best opportunities for investors.

But, although cheap property locations have a lot of advantages for property investors there can also be some drawbacks which you need to be aware of. For balance, take a look at this article: The pros and cons of investing in cheap property.