Birmingham Leads Way In Property Under £230k

Property News, Statistics and Reports

Research from property website OnTheMarket.com reveals the average number of bedrooms buyers can get for the national average house price – £229,431 – in cities across the UK.

What buyers can get for their money varies hugely up and down the country from a leasehold studio flat in inner London to a three bedroom house with parking and a garden in Cardiff, Newcastle, Leeds and Birmingham.

Among the cities analysed, Birmingham was found to be the city with the most available (60%) three bed homes currently on the market with a price tag of around £230,000.

UK city Av. no. of bedrooms you can buy for £229,431 % of properties currently for sale in each city at £229,431 with number of bedrooms shown in column B
Birmingham 3 60%
Glasgow 2 46%
Leeds 3 50%
Manchester 2 48%
Newcastle upon Tyne 3 39%
Inner London 1/studio 69%
Outer London 1/studio 64%
Cardiff  3 59%

 

UK city Av. property type available for £229,431
Birmingham House/Freehold/Parking/Garden
Glasgow Flat/Ownership (freehold)/Parking/Access to Garden
Leeds House/Freehold/Parking/Garden
Manchester Flat/Leasehold/Parking/Access to Garden
Newcastle upon Tyne House/Freehold/Parking/Garden
Inner London Flat/Leasehold
Outer London Flat/Leasehold/Parking/Access to a garden
Cardiff  House/Freehold/Parking/Garden

OnTheMarket.com combined its own house price data with the National House Price Index to find how many bedrooms homebuyers can get for the current average house price of £229,431 (published 17 July 2019, showing May data) in each of the major cities which are shown in the table above.

Vikki Bennett, spokesperson for OnTheMarket.com, said: “The UK’s national average house price means very different things to buyers up and down the country so this data shows exactly what they can get for their money in the big cities.

“In Inner London there are properties for sale at this price which is surprising at first, but on deeper analysis it is revealed that over 90 per cent are leasehold and some are for a very small number of years and others were shared ownership.

“The value gap between London and the rest of the country is highlighted most noticeably in Birmingham where 60% of the properties currently for sale at around the £230,000 mark have three bedrooms and where parking and a garden are the norm.”

Andy McHugo from James Laurence estate agents in Birmingham said: “Birmingham is going through an exciting change. Investment in the ‘second city’ shows no sign of slowing down, especially after Birmingham was awarded the 2022 Commonwealth Games and the second devolution deal, all helping to secure a new stream of funding for transport and infrastructure and boosting local productivity and growth.”

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