The cost of living comparison 2015: House prices
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Have you ever wondered how much someone in London is paying for their house or how expensive it would be to move to Scotland? This cost of living comparison will aim to answer all your questions about the ‘big move’.
This cost of living comparison will aim to identify the current average house prices for different regions within the UK to help you make an informed financial decision about a big move.
How much does a house cost in your region?
House prices vary from region to region as you could imagine with Greater London topping the charts for the most expensive place to buy in Q1 2015.
In greater London you could expect to pay around £700,000 for an average detached house! On the cheaper side you could still expect to pay approximately £345,000 for a flat. The data included within this research includes prices for all houses in the centre and on the outskirts of Greater London and therefore the prices will vary from area to area. On average houses in Great London costs approximately £396,000.
Up North you could expect to pay around £142,000 for a property, which can be broken down to £95,000 for a flat or £228,000 for a detached house. Significantly cheaper than London!
Yorkshire and Humberside
Yorkshire and Humberside, you could expect to pay around £151,000 for an average property with flats costing approximately £115,000 and detached housing costing £165,000.
Northwest prices average around £158,000 for all properties with flats costing £121,000 and detached houses costing an average of £275,000.
East Midlands housing, again more reasonable, costing an average of £163,100 with flats costs ranging from around £101,000 and detached houses near £237,000.
West Midlands housing is slightly more expensive than the east with costs around £176,000 for an average house, flats costing around £115,000 and detached housing £283,000.
East Anglia costs range around the £213,000 mark, with flats around £166,000 and detached housing around £297,000.
The South East
South East houses cost approximately £284,000 in total, and when you break the averages down you can be looking to pay around £284,000 for a flat and £476,000 for a detached house. This is the second most expensive region to live in the UK!
The South East
In the South West house prices range around the £217,000 mark, with flats costing around £150,000 and detached houses £341,000.
Wales has an average house cost of £144,000 with flats costing approximately £107,000 and detached houses £225,000.
Significantly cheaper in Northern Ireland, the housing costs average out at £122,000 with detached houses costing £176,000.
Scotland has a reasonable housing market price with your average house costing £169,000, flats costing £128,000 and detached houses costing £275,000.
So now you have seen all the prices, how does this make you feel? Would a house move bust your budget or save you thousands? For all the new house buyers out there or wishful thinking buyers like me who are being out priced by the market, how affordable are these costs to you?
Data used within this content was sourced from the Halifax House Price Index
If you are interested in energy saving tips to reduce your energy bills, we have a great article on ways you can improve your energy effieicnecy.
Thanks for taking the time reading this article and I hope this has answered your questions about the big move. Maybe this will inspire you to make the big move after considering the financial comparison of house prices.
Thank you again,