We all know about the North/South divide. We all know about the Prime Minister’s attempt at ‘levelling up’. We all know the story about the crumbling Red Wall.

The facts are clear when it comes property. According to Churchill Home Insurance, Darlington in County Durham is the cheapest place to buy a property in the country, at just £58 per square foot.

Which is staggering when you compare it to the most expensive — Kensington in central London, where the average price per square foot stands at £1,721. 

Imposing: The Clock Tower in Darlington, County Durham - the cheapest place to buy a property in the country, at just £58 per square foot

Imposing: The Clock Tower in Darlington, County Durham – the cheapest place to buy a property in the country, at just £58 per square foot

The exclusive royal borough is home to music legends Robbie Williams (musician) and Eric Clapton (entrepreneur), respectively.

But here’s the twist: anyone looking to take advantage of Darlington’s prices might have to move fast because there are plans to turn this market town into the hottest property in the north.

Over the next five-years, Chancellor Rishi Sonak will open a new smart division of the Treasury in the area. This will allow for about a quarter to be moved within the department. 

That’s about 400 people, many of whom will be local recruits. ‘We’re giving talented people in the North-East the opportunity to work in the heart of Government, making decisions on important issues for our country,’ explains Sunak.

What are the drawbacks of these polar-opposite places?

Kensington is one of London’s crown jewels. It has top museums, chic cafes and boutique shops.

There are three Zone 1 underground stations and several independent schools, and you’re a stroll away from the West End. 

Upmarket: A terrace in Kensington, London, where the average price per square foot stands at £1,721

Upmarket: A terrace in Kensington, London, where the average price per square foot stands at £1,721

Top restaurants include Daphne’s and Launceston Place — both favourites of the late Princess Diana — and the iconic Bibendum with two Michelin stars.

There’s no surprises when it comes to property values in this area; they’re stellar. The cheapest property in Kensington for sale on Rightmove in the middle of October was priced at £40,000 and that was just a space in a car park. 

The most expensive listing, by contrast, was a seven- bedroom semi, with an eye-watering asking price of £30 million.

Of just over 510 property sales in the past year, the average price was a slightly more modest £2,169,235, according to Zoopla, but that’s after prices took a 4 per cent knock as fewer people bought in London during the pandemic.

It’s a different story in Darlington, which has a modest average property price of £172,724, according to Zoopla. 

However, things are changing. There have been over 1,600 property sales over the past 12 months, and prices have risen gently by 4.5 percent. The most expensive home on sale is a four-bedroom detached house with grounds, for £700,000.

However that’s still an exception, with many more at the other end of the scale, where there are several two-bedroom terrace houses for sale at £45,000.

If you’re moving in, bone up on railway history — the world’s first steam train service began here almost 200 years ago. 

You can also look out for the twice-weekly street markets, the revamped Hippodrome theatre, and an odd tribute to Vic Reeves or Duncan Bannatyne who were both born in the town.

Darlington is full of well-maintained Victorian buildings, while South Park is a beautiful place to stroll. If you’re after the best of local food, the two-Michelin starred Raby Hunt Restaurant is the place to go.

The town has the buzz of a place on the move — there are modernisations under way at both the railway station (2 ½ hours to London, 30 minutes to Newcastle) and the indoor market.

Meanwhile, Rishi Sunak’s Treasury initiative is already putting Darlington on the map. ‘I know of several people from London who have moved here thanks to working remotely,’ says estate agent Henry Carver of Carver Residential. 

Market: North-South divide 

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