How much space can £231k buy you
A study1 has revealed that, based on the UK’s average house price of £231,000, the West Midlands is the UK region with the most living space. Many properties in this region have around 30% more space than average at 104.92 sq m. Buyers can also expect to benefit from a higher-than- average number of bedrooms for their money, averaging 3.02 against the UK’s 2.64. Northern Ireland takes the top spot with an average of 3.26.
London offers poorest value
Meanwhile, those buying in Greater London can expect the smallest living space, at a tiny 45.74 sq m. on average, with some properties measuring as low as just 21 sq m. House buyers are also less likely to have a garage or utility space compared to those in the West Midlands. Outside the capital, South East residents are only able to buy an average of 62.91 sq m. for their £231,000, while those in Scotland can expect 72.31 sq m.
1Space Station, 2020
As a mortgage is secured against your home or property, it could be repossessed if you do not keep up mortgage repayments.