The average UK house price is a whopping £340,837, but what does that actually get you? A pokey flat or a sprawling mansion? Well, it all depends where you lay your hat (or should that be bricks and mortar?)
Savills estate agents have crunched the numbers, comparing house prices with square footage, and the results are eye-opening. Brace yourselves, because location, location, location has never rung truer.
North East Offers Biggest Bang For Your Buck
Head up north to the land of Geordie Shore and you’ll find your money goes furthest. £340,837 will bag you a five-bedroom house with a whopping 1,955 square feet of space – that’s nearly four times bigger than a London flat for the same price.
Scotland and the North West also offer good value for money, with the average house price getting you a spacious four-bedroom des res.
South East: Smallest Homes, Biggest Prices (After London, Of Course!)
Now for the bad news, especially if you’re dreaming of living down south. The South East, excluding London, has the smallest homes compared to the average house price. You’re looking at an average of 825 square feet, which would likely get you a two-bedroom house.
London: Eye-Watering Prices, Tiny Flats
And then there’s London. The Big Smoke, where dreams go to die… at least if you’re looking for a spacious family home. The average house price will only get you a tiny 551 square feet – that’s likely to be a studio or one-bedroom flat.
Don’t Forget The Location, Location, Location
If you’re looking for the absolute best deals, head to:
- Easington, County Durham: A massive 2,858 square foot, five-bedroom house could be yours.
- Rhondda, Wales: Snap up a 2,625 square foot home.
- Na h-Eileanan an Iar, Western Isles of Scotland: Enjoy island life in a 2,551 square foot property.
But avoid these areas unless you have deep pockets and love tiny living:
- St Albans, Hertfordshire: Only 547 square feet for your hard-earned cash.
- Esher & Walton, Epping Forest and South West Hertfordshire: All offer less than 600 square feet for the average house price.
- Kensington and Westminster, London: Get ready to downsize drastically – you’re looking at a minuscule 220-236 square feet.
Square Footage Isn’t Everything, But It’s Food For Thought
Of course, square footage isn’t the only thing to consider when buying a house. The layout, garden size, and overall condition are all important factors. But, this data does highlight the stark regional differences in the UK property market. So, whether you’re after a spacious family home or a cosy pied-à-terre, make sure you do your research and choose an area that suits your budget and your lifestyle.