Average property prices in the UK exceeded £250,000 some time ago but what exactly can you get for this kind of money in different corners of the country?
Unsurprisingly, the size and specification of property you can expect for your £250,000 differs greatly from one region to the next. With the stamp duty holiday having been extended until at least September 30, the next few months are expected to be particularly busy for the real estate market.
For those setting their sights on a property for around the £250,000 national average, this is what you are likely to find available in key areas of England:
The average price for a three-bedroom house in the North East of England is just over £152,000, which means that £250,000 would stretch to quite an impressive property. An attractive four-bedroom townhouse recently renovated and with pristine private gardens should be well within your price bracket in select areas of the North East.
Similarly, the average market value of a three-bedroom home in the North West of England is just under £200,000. If looking to spend £250,000, you could invest in a large and relatively newly built four-bedroom home with landscape gardens, a separate dining room and excellent transport connections. House prices are also up more than 7% in this region year on year, making it a great location to consider buying into.
Yorkshire and the Humber
With average prices hovering around £190,000, an investment of £250,000 in Yorkshire and the Humber could stretch to a beautiful rural property in a quiet and secluded corner of the county. Ideal for those looking to escape the chaos and congestion of busy urban centres for a more tranquil countryside lifestyle.
Homes rarely take much time to sell in the West Midlands – an average of 65 days, fuelled by consistent demand. £250,000 in an area where the average property values hover around £220,000 could easily stretch to a spacious three-bedroom semi in a desirable corner of the county with lush gardens and an expansive driveway for multiple cars.
East of England
Property prices in this region are currently averaging around £327,000, though there is plenty available for a £250,000 investment. Three-bedroom detached and semi-detached properties in and around Norwich in particular are proving popular among movers and investors alike.
With the same average asking price of around £372,000, the second most expensive region in England still has options available for a £250,000 investment. Terraced properties in particular with private gardens and two to three bedrooms were available in plentiful supply as of early 2021.
Lastly, £250,000 is still more than enough to invest in an attractive contemporary flat with two bedrooms and spacious living areas in several South London postcodes. Considering the average price of around £645,000 for a home in London, the fact that anything attractive is available for this kind of money is actually quite surprising.