What the average asking price buys across Great Britain

A budget of around £378,000 can buy anything from a five-bedroom family home to a studio flat depending on where buyers are looking.

Rightmove examined what the current national average asking price can buy across the UK, highlighting the wide gap in affordability between different regions.

In parts of Scotland, the North and the Midlands, buyers with the average budget can secure a four or five-bedroom house. In North Lanarkshire, for example, the average asking price for a five-bedroom detached home is £376,052, while five-bedroom properties in Charnwood, Nottingham, County Durham, Liverpool, Kirklees and the East Riding of Yorkshire are also available for less than the national average asking price.

In contrast, buyers in London and parts of the South East are typically limited to much smaller properties. In Tower Hamlets, the average asking price for a studio flat is £357,556, while in Hackney it is £341,021. A one-bedroom flat averages £362,322 in Richmond upon Thames and £345,677 in Haringey.

The findings underline the significant regional differences in buying power, with the same budget stretching considerably further in northern England and Scotland than in many parts of the capital.

Colleen Babcock, Rightmove’s property commentator, said: “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.”

What £378k buys you across the country

Where money goes furthest 

Where money stretches the least