I live on one of the UK’s ‘cheapest streets’ where houses go for £25k…but it won’t last for long

A RESIDENT living on one of the UK's cheapest streets has said house prices there won't stay low forever.

Muhammad Choudary, 45, lives on Meadow Street, Lancashire, where properties have sold for around £25,000.

The taxi driver bought his family home three years ago.

He said pre-pandemic, buying in the area was a steal - but now some houses will go for more than double or triple the price.

Muhammad told : "After coronavirus, [prices have] gone up.

"One house that maybe sold for £25,000 before the pandemic, the owner sold for £68,000.

In another example, a house on Meadow Street, Preston, sold for £46,000 in 2004 but by 2017, went for £82,500.

House prices across Lancashire have seen dramatic rises - with one area rising £7,000 in July of 2022.

Prince in July were £39,157 higher than the previous year with growth accelerating to 15.5 percent.

Prices climbed by 2.0 per cent month on month over the year from July 2021 to 2022.

The quiet street in Accrington isn't far from the hustle and bustle of everyday life.

For such cheap prices, you'd think the two rows of terrace houses would be isolated.

However, there is an Aldi, Home Bargains and a trampoline park around the corner.

Mainly occupied with families, residents said it is a safe and friendly street to live on.

Despite the rise in prices, the north still has some of the cheapest properties up for grabs in the country.

As of 2021, Waterloo Walk in Sunderland was reported as England's cheapest road.

Houses sold with a tiny price tag of just £16,250.

And just a four minute walk away, the neighbouring block of flats at Collingwood Court sold for around £24,000.

A property expert recently told The Sun, the best time to buy a home is in the Spring.

Nicholas Mendes said the market has been very turbulent because of the cost of living crisis and rocketing interest rates - but buyers shouldn't be put off.