HOUSE ALERT: An analysis by Mojo Mortgages looked at all 3,236 properties currently for sale across the UK’s top 45 most populous towns and cities (Image: Getty Images/Maskot)
A national study has found that the average property price in the UK is just over £261,000. However, buyers in the South can only afford very small spaces for this price, while buyers in the North East can get much larger homes.
Mojo Mortgages looked at 3,236 properties for sale, priced between £255,000 and £265,000 in the UK’s 45 largest towns and cities, excluding Northern Ireland and London, and found that, in southern cities, the national average price can only buy a small one-bedroom flat or apartment. In contrast, in northern cities, the same amount of money can buy a three-bedroom detached house.
According to their analysis, Brighton is the least affordable, with the homeowners likely to receive the least number of bedrooms for the national average property price. For £261,142, residents here will only get a flat or apartment with 1.31 bedrooms and 1.02 bathrooms.
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Oxford was next, where the national average house price typically gets you a flat or apartment with 1.5 bedrooms and 1.25 bathrooms, followed by Cambridge, another university hotspot. In Cambridge, the average house price generally buys a 1.56-bedroom flat or apartment with one bathroom.
On the other end, Middlesbrough came out best for affordability. Here, £261,000 can typically buy a detached house with 3.85 bedrooms and 1.69 bathrooms. Second place went to Sunderland, where the same amount buys 3.67 bedrooms and 1.87 bathrooms.
Another northern city, Kingston Upon Hull comes in third with 3.5 bedrooms and 1.63 bathrooms for the same price. Swansea and Glasgow made the top five with 3.45 bedrooms and 3.16 bedrooms, respectively.
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