Although the twin horrors of soaring inflation and volatile interest rates seem to be slowly in retreat, buying a property in 2024 could still prove to be challenging for the pocket.
So not unreasonably, pound for pound, we want to know whether we’re getting anything like value for money before we decide to make a move.
According to Daniel Copley, consumer expert at Zoopla, it varies widely when the nation’s 30 million homes are spread across thousands of housing markets.
Corner plot: This four-bedroom house in Amble, Northumberland is on sale for £260,000
Daniel says: ‘Property prices will also be impacted by proximity to local schools, train stations and transport links.’
So with this in mind, how far can you make your money go? To find out, we took a whistle-stop tour of markets around the country to see what you can get for the average UK house price of £264,400.
Nefyn, North Wales
The average price for a property in North Wales is £232,692, according to Rightmove.
Nefyn is a tranquil village on an elegant crescent-shaped sandy beach.
‘The Llyn peninsula is an area of outstanding beauty,’ says Carol Peett, the owner of West Wales Property Finders.
For sale: £255,000 buys you a two-bedroom bungalow which is just a short walk to the beach.
Poole
With its busy quayside, clean beaches and historic town centre, house prices average at £434,403.
‘Poole is only two hours from London and has award-winning Blue Flag beaches from Sandbanks to Bournemouth,’ says Neil Roff, of Winkworth.
For sale: A £255,000 two-bedroom flat is a few minutes’ walk from the harbour.
Kings Heath, Birmingham
For sale: £260,000 is the price of this three-bedroom semi in Birmingham’s Kings Heath area
Research by comparison site GetAgent.co.uk reveals the West Midlands has been the best-performing housing market since interest rates started to rise.
Kings Heath, in the south of the city, has independent shops, bars and a farmers’ market.
For sale: £260,000 is the price of this three-bedroom semi.
Forres, Inverness
With its castle, parks and gardens, Forres on the Moray coast is one of Scotland’s oldest towns. It is 27 miles north-east of Inverness, and has won Scotland in Bloom.
Forres had an average price of £212,763 for property in the past year.
For sale: £255,000 will get you a three-bedroom link-detached family home.
Northumberland
This beautiful county offers all the tranquil benefits of a rural location yet it’s not far to Newcastle.
Affordable housing and a rural setting means there’s a low crime rate and a strong sense of community. Average house prices are about £206,233.
For sale: A £260,000 four-bedroom house is set within the port of Amble.
South-West London
There may be some green spaces and plenty of shops, but average house prices are a whopping £1 million.
Yolanda Jacob, sales and marketing director at Barratt, says: ‘Millennials are drawn to this pocket of London, thanks to its rich culture and vibrant art scene without compromising on connectivity.’
For sale: £255,000. This one-bedroom period flat in Lavender Hill requires ‘refurbishment and upgrading’.
The Wirral
Wedged between the River Dee to the west and the River Mersey to the east, the Wirral peninsula overlooks both the Welsh hills and the Liverpool skyline.
You’ll find genteel seaside locations, including the market town of Neston. Average house prices are about £212,000.
Nature lovers can enjoy bird watching across the salt marshes. A half-hour train offers access to Liverpool.
For sale: At £269,950, a four-bedroom semi-detached house has lovely views over to Wales.
West Sussex
As well as holding a 29-year record with the Met Office for being the sunniest county in the country, West Sussex also offers plenty of countryside, coastline and national parks.
Demand is outweighing supply across the county.
For sale: £260,000. This two-bedroom, two-bathroom flat in the seaside town of Bognor Regis is set on the ground floor.
