But it is still possible to pay five figures for a house, especially if you’re prepared to put in some work in and renovate the property.
We’ve trawled the latest listings on Rightmove to find the cheapest houses for sale right now across the North West.
They start from just £25,000 and include a four-bedroom house with a guide price of only £40,000.
But several require extensive refurbishment and some are up for auction, so could easily for well above their guide price.
We’ve only looked at houses for sale and not included flats, caravans or retirement homes in our list of the region’s cheapest houses.
The homes in our gallery, located across Lancashire, including in Blackpool, Wigan, Manchester, Liverpool, Burnley, Lancaster and Preston, are listed from cheapest to most expensive.
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1. 12 Ivy Street, Burnley BB10 1TD - £25,000
This two-bedroom terraced house is up for auction, with a £25,000 guide price. There is a tenant in situ, with the property generating £6,600 a year in rent. | Rightmove/SDL Property Auctions Photo: Rightmove/SDL Property Auctions
2. 5 Primrose Street, Liverpool - £28,000
This two-bedroom terraced house is for sale by auction, with a £28,000 guide price. It's located off Stanley Road, in a 'popular' area of Liverpool, close to schools, transport links and local amenities. It is in need of a 'complete upgrade and refurbishment' but once renovated could generate around £10,200 a year in rent, the listing claims. | Rightmove/SuttonKersh Photo: Rightmove/SuttonKersh
3. 74 High Street, Blackpool FY1 2BP - £40,000
This four-bedroom terraced house is located close to the sea front and the Central Pier in Blackpool. It has three reception rooms and three shower rooms, and could be turned into an HMO or bed and breakfast. It's due to go up for auction, with a £40,000 guide price. | Rightmove/Auction House, Lincolnshire Photo: Rightmove/Auction House, Lincolnshire
4. 28 Berry Street, Burnley, Lancashire, BB11 2LG - £40,000
This two/three-bedroom terraced house has two reception rooms and a rear year. The property, which is in need of modernisation, is for sale by auction, with a £40,000 guide price. | Rightmove/Probate.Auction Photo: Rightmove/Probate.Auction