The contrast between what the average national house price can buy you in the north versus the south is striking. According to a recent study by Mojo Mortgages, while £261,000 might secure you a spacious detached home in some northern cities, it barely affords a one-bedroom flat in the south.
The analysis examined over 3,200 properties for sale across the UK’s 45 most populous towns and cities, all priced between £255,000 and £265,000. The findings were eye-opening: in the southern cities, the average property you could buy for around £261,000 was typically a modest one-bedroom flat. Conversely, in northern cities, the same amount could stretch to a three-bedroom detached house, offering significantly more space.
The Great Divide – South Struggles with Space
Brighton epitomises the southern squeeze, where an average property price of £261,142 buys you a home with around 1.31 bedrooms and 1.02 bathrooms—hardly enough for a growing family. Oxford and Cambridge follow closely, with similarly cramped conditions at slightly higher ratios.
Northern Prosperity – More Bang for Your Buck
On the flip side, Middlesbrough leads the affordability chart in the north. Here, the average price tag of around £261,000 is enough to secure a detached home with approximately 3.85 bedrooms and 1.69 bathrooms. Sunderland and Kingston upon Hull also offer great value, with spacious homes featuring over three bedrooms and 1.5 bathrooms on average.
Detailed Breakdown of Property Affordability
Here’s a snapshot of how different regions compare:
- Middlesbrough, Yorkshire Humber: Detached home costing £261,150, with 3.85 bedrooms and 1.69 bathrooms.
- Sunderland, North East: Detached home for £261,104, with 3.67 bedrooms and 1.87 bathrooms.
- Kingston upon Hull, Yorkshire Humber: Detached home at £260,708, featuring 3.50 bedrooms and 1.63 bathrooms.
- Swansea, Wales: Detached home priced at £259,409, with 3.45 bedrooms and 1.57 bathrooms.
The list continues, showcasing how, generally, the further north you go, the more house you can get for your money.
Exploring the Implications
This stark disparity not only affects where people choose to live but also impacts their quality of life. In the south, the squeeze on space may deter families from settling or expanding, whereas in the north, the more generous space at similar price points could offer a higher quality of living and better opportunities for family growth.