Recent data from Mojo Mortgages has highlighted the vast differences in property sizes that the average UK house price of £261,142 can secure across various cities. This insight is particularly valuable for property investors looking to maximize returns on their property investments.
Northern Cities Offer More Space
In the north of the UK, cities like Middlesbrough present lucrative opportunities for landlords. Here, the average house price can buy a detached house with approximately 3.85 bedrooms, making it ideal for families and potentially commanding higher rental yields. Similarly, in Sunderland, an average-priced property might secure a 3.67-bedroom detached house, again appealing to family-oriented tenants.
Kingston Upon Hull completes the top three locations where investors get more bang for their buck. In this city, the national average price could fetch a detached property with around 3.50 bedrooms.
Top Picks for Investors
The analysis by Mojo Mortgages also ranks the top 10 cities for property size relative to the national average price, providing a clear guide for investors on where to consider purchasing next. These cities, predominantly in the North, offer more bedrooms and thus are more likely to attract families looking for spacious living.
Southern Cities Fall Short on Space
Conversely, Southern cities paint a different picture, where the same amount of money buys significantly less space, affecting potential rental yields. Brighton emerges as the city offering the smallest properties for the national average price, with buyers likely only able to afford a flat with 1.31 bedrooms and 1.02 bathrooms.
Following Brighton, Oxford and Cambridge are also less promising for buyers using the national average budget. In Oxford, the typical property secured is a flat with 1.5 bedrooms and 1.25 bathrooms, while in Cambridge, a similar budget would typically stretch to a 1.56 bedroom flat with exactly one bathroom.
These disparities underscore the importance of geographical considerations for property investors and highlight the diverse landscape of the UK’s property market.
