Detached home or a one bed flat – what the average house price will buy across the country | Personal Finance | Finance

0
71


A national study has identified the national average property price at just over £261,000 – yet the buyers in south barely get enough room to swing a car.

By contrast buyers in the North East of England can lounge around in a property that is plenty big enough to serve as a forever home.

An analysis by Mojo Mortgages looked at all 3,236 properties currently for sale with an asking price of £255,000 – £265,000 in the UK’s top 45 most populous towns and cities.

The analysis found the national average property price in Southern cities can purchase a small 1-bedroom flat or apartment.

By contrast in Northern cities, the same national average property price is enough to get the keys to a three-bed detached property.

Brighton came bottom in terms of affordability with the UK average price figure of £261,142 enough to afford a property with an average ratio of 1.31 bedrooms and 1.02 bathrooms.

Next came Oxford with the average at 1.5 bedrooms and 1.25 bathrooms, while Cambridge followed at 1.56 bedrooms and 1.0 bathroom.

Looking at the other end of the scale, Middlesbrough came out best for affordability. There the £261,000 figure is typically enough to secure a detached property. The average ratio was a high 3.85 bedrooms and 1.69 bathrooms.

Second place went to Sunderland. Again, homeowners here are most likely to be able to afford a detached property with the bedroom ration at 3.67 and 1.87 for bathrooms.

Another Northern city, Kingston Upon Hull, place third with an average bedroom ratio of 3.5 and 1.63 for bathrooms.



Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here