A studio in London or five bedrooms up north: Rightmove data reveals stark regional divide in what buyers can get for the same budget
The same budget that buys a five-bedroom detached house in parts of Scotland or the North of England will stretch only to a studio flat in some London boroughs, according to new data from Rightmove.
The property platform analysed listings across Britain to show what buyers can typically expect for approximately £378,000 — the current national average asking price.
| What £378k buys you across the country | ||
| Region | What £378,000 buys you | Average asking price (May 26) |
|---|---|---|
| East Midlands | 4-bed semi-detached | £335,423 |
| East of England | 3-bed semi-detached | £377,448 |
| London | 1-bed flat | £369,305 |
| North East | 4-bed detached | £369,075 |
| North West | 4-bed semi-detached | £377,202 |
| Scotland | 4-bed detached | £376,893 |
| South East | 3-bed flat | £375,917 |
| South West | 3-bed flat | £348,836 |
| Wales | 4-bed semi-detached | £341,098 |
| West Midlands | 4-bed semi-detached | £376,768 |
| Yorkshire and The Humber | 4-bed semi-detached | £347,104 |
| Source: Rightmove | ||
The regional disparity is pronounced. In North Lanarkshire, a five-bedroom detached house carries an average asking price of £376,052, fractionally below the national average. In Charnwood, a five-bedroom semi-detached home averages £377,605, and in Nottingham the same property type averages £370,786.
Further north, County Durham offers five-bedroom semi-detached homes at an average of £367,424, while in Liverpool a five-bedroom terraced house averages £356,357. In Kirklees, buyers can access a five-bedroom terraced property for £359,308, and in East Riding of Yorkshire the equivalent averages £337,642.
| Where money goes furthest | |||
| Area | Region | What £378,000 buys you | Average asking price (May 26) |
|---|---|---|---|
| North Lanarkshire | Scotland | 5-bed detached house | £376,052 |
| County Durham | North East | 5-bed semi-detached house | £367,424 |
| Nottingham | East Midlands | 5-bed semi-detached house | £370,786 |
| Charnwood | East Midlands | 5-bed semi-detached house | £377,605 |
| East Riding of Yorkshire | Yorkshire and The Humber | 5-bed terraced house | £337,642 |
| Liverpool | North West | 5-bed terraced house | £356,357 |
| Kirklees | Yorkshire and The Humber | 5-bed terraced house | £359,308 |
| South Tyneside | North East | 4-bed detached house | £378,048 |
| Leicester | East Midlands | 4-bed semi-detached house | £377,173 |
| Worcester | West Midlands | 4-bed semi-detached house | £377,175 |
| Source: Rightmove | |||
At the other end of the scale, buyers in parts of London and the South East face a markedly different market. In Tower Hamlets, the average asking price of a studio flat is £357,556; in Hackney, the same property type averages £341,021. In Richmond upon Thames, a one-bedroom flat carries an average asking price of £362,322, while in Haringey the equivalent averages £345,677.
| Where money stretches the least | |||
| Area | Region | What £378,000 buys you | Average asking price (May 26) |
|---|---|---|---|
| Tower Hamlets | London | Studio | £357,556 |
| Lambeth | London | Studio | £347,980 |
| Hackney | London | Studio | £341,021 |
| Southwark | London | Studio | £327,746 |
| Camden | London | Studio | £324,470 |
| Wandsworth | London | Studio | £322,928 |
| Islington | London | Studio | £302,859 |
| Hammersmith and Fulham | London | Studio | £273,512 |
| Richmond upon Thames | London | 1-bed flat | £362,322 |
| Haringey | London | 1-bed flat | £345,677 |
| Source: Rightmove | |||
"Buyers are weighing up value more carefully in the current market, and this analysis shows just how much variation there can be in what the same budget buys in different parts of Britain," said Colleen Babcock (pictured right), property expert at Rightmove. "For some movers, the price of an average home could mean a flat in a more expensive city market, while in other areas it could stretch to a much larger family home.
"With the number of homes for sale at historically high levels for this time of year, homes that feel well-priced for their size, location and condition are more likely to stand out. Affordability remains a key driver of buyer behaviour, and many movers are taking the time to compare what they can get for their budget before making a decision."
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