THIS is what the average house price can buy across Great Britain
Hammonds Furniture publishes its findings from an investigation into what you can buy in Britain for the average house price in 32 major cities.
Key findings:
- £268k will get you a detached, four bed house with two bathrooms and two reception rooms in Bradford.
- Across Britain, the average house price will get you a semi-detached house with 3 three bedrooms, one bathroom and two reception rooms.
- In London, Edinburgh and Brighton, £268k will only buy you a two-bedroom flat with just one bathroom and reception room.
- Read more about the study here.
- A high-res map graphic showing the regional differences in average house value is available to download here.
New research from Hammonds Furniture has revealed exactly what type of property you can buy across Great Britain with £268k (the average house price across the last 12 months), and there is a shocking difference in ‘bang for buck’ – with Bradford offering the best value for money.
Hammonds’ study proves that property hunters seeking more space will find better value depending on whereabouts in the country they are searching.
Hammonds analysed sold listings across the last six months on Zoopla to find out what you can buy for Britain’s average house price in major cities across the country. Combining data from Halifax and the Land Registry from the last 12 months, they found the average British house price in between May 2021 and 2022 to be £268,000.
A typical £268k property in Bradford is detached and consists of an impressive four bedrooms, two bathrooms and two reception rooms.
Typically, in Britain, the average house price will get you a semi-detached house with three bedrooms, one bathroom and two reception rooms – so house hunters may want to consider the Yorkshire city if they’re looking to maximise space for their budget.
Preston and Newport are the only other two cities where you get a four-bed place within the average price, still with two bathrooms and reception rooms but semi-detached rather than detached.
According to the UK’s Google searches, many people are concerned about recent house price hikes, as 110k Brits search for ‘house prices’ each month on average, with this increasing 49% in the last three months3.
To illustrate the regional differences in value for money in the property market, Hammonds created a map showing what you can buy for £268,000 in 32 major GB cities:
What you can buy for the average house price in the Britain’s major cities, ranked by value for money:
In London, £268k will get you a two-bedroom flat with just one bathroom and reception room. The cities that offer the worst value for money outside of England’s capital are Brighton and Edinburgh, where you can get no more space than you would in London.
Brits searching for a new home at the average house price may be able to secure a larger property in the north of England compared to the south, as the majority of southern cities offer less bedrooms on average, and with southern cities like Bristol and Southampton’s average properties tending to be terraced.
Kirsty Oakes, Head of Product and Marketing at Hammonds Furniture, added:
“With peak house-buying season well underway, we hope this study helps house hunters to see where they can get the best value for money, and figure out what sort of property they can expect to find in their budget.
“It’s clear that there’s some pretty big regional differences in what you can buy for the average house price, revealing some potential hidden gems for more affordable, spacious properties.”
Kindly shared by Hammonds Furniture
Main photo courtesy of Pixabay
