The parts of the UK where money stretches the most when buying a home have been named.
New research from the UK’s biggest property platform has revealed what buyers can get for the current average asking price of a home and where their money will go the furthest. One area of Scotland was named the part of the UK where homebuyers will get the most for their money.
On Tuesday, June 30, Rightmove revealed revealed what buyers in the UK can get for the current average asking price of a home, which is approximately £378,000. The experts looked at what this figure can buy in different local areas across the nation, based on current homes listed for sale.
According to Rightmove, there are clear regional differences in what buyers can typically afford with a budget of £378,000. In Scotland, this figure can stretch to a four or even a five-bedroom property in certain areas of the country—significantly more than parts of England.
The experts revealed that North Lanarkshire is the area of the UK where homebuyers will get the most for their money. In North Lanarkshire, the average asking price of a five-bedroom detached house is £376,052—which is slightly below the national average of £378,000.
North Lanarkshire borders the northeast of Glasgow and is home to many of the city’s suburbs, commuter towns, and villages. The biggest settlement in the council area is Cumbernauld, which has a population of approximately 50,530, while other large towns include Coatbridge, Airdrie, and Motherwell.
North Lanarkshire is also home to many of Scotland’s most popular and iconic places of interest, including M&D’s amusement park, the 1,100-acre Strathclyde Country Park, and The Time Capsule water park. Other popular attractions include Drumpellier Country Park and the North Lanarkshire Heritage Centre.
Elsewhere, County Durham in North East England was named the area of the UK where money goes the second-furthest when buying a home. Nottingham and Charnwood in the East Midlands follow in third and fourth respectively, while the East Riding of Yorkshire rounds out the top five.
On the other hand, in London and parts of South East England, the current average asking price of a home of £378,000 is more commonly associated with smaller homes such as flats or one-bedroom properties according to Rightmove. The average asking price of a studio in Tower Hamlets in London is £357,556, while in Hackney a studio flat averages £341,021.
Rightmove property expert Colleen Babcock commented: “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. 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.”
See below for the 10 areas in the UK where “money goes furthest” and where “money stretches the least” when buying a house.
Where ‘money goes furthest’ when buying a house
- North Lanarkshire, Scotland
- County Durham, North East
- Nottingham, East Midlands
- Charnwood, East Midlands
- East Riding of Yorkshire, Yorkshire and The Humber
- Liverpool, North West
- Kirklees, Yorkshire and The Humber
- South Tyneside, North East
- Leicester, East Midlands
- Worcester, West Midlands
Where ‘money stretches the least’ when buying a house
- Tower Hamlets, London
- Lambeth, London
- Hackney, London
- Southwark, London
- Camden, London
- Wandsworth, London
- Islington, London
- Hammersmith and Fulham, London
- Richmond upon Thames, London
- Haringey, London


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