With the price of houses rising each year this makes it much harder for first time buyers to get on the property market.

There are regional differences in house prices over the UK and clear increases as you travel the south of England.

When looking to buy a house you might consider the regional differences in prices.

 

The South is more expensive

MoJo Mortgages has found that the value of property you can buy in the North VS. the South holds a significant difference. The average price for a 2 bed in £260,863. For this price, in a northern city you could find a three bed for this average price whereas in the South you would be more likely to find a 1 bed flat for the average price.

They found that Middlesbrough can offer the best value as with the average price mentioned above you could get a 3 bed house.

Brighton offers the worst value closely followed by Oxford and then Cambridge.

House Prices began falling at the start of 2024 but remain +30% higher than the average in most areas.

 

Why is the South more expensive?

The south is perceived to come with lifestyle benefits such as the climate and landscape with fewer large cities and more natural land.

Higher wages in the South match the higher house prices and often people will move to the south for work benefits.

The commuting belt into London stretches about 100 miles around the city offering easy access to work offices and so many people live in the South for this reason too.

The high demand for living in the South drives the prices up.