Property

Which regions offer the largest properties for your money?

Property Reporter
|
21st June 2021
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With UK house prices at an all-time high and buyers scrambling for bigger homes, the race for space among house-hunters is only going to get more intense due to plummeting stock levels, leading many to search for homes in other areas.

New research from Ideal Heating found that homes in England priced around the national average of £266,742 have an average floor space of 96.17m2 - around two-fifths the size of a tennis court. But in which regions can you get the most house for your money?

The firm identified the five regions offering buyers the most value for money for properties on sale at the national average asking price.

The North East - 121.50m2

With an average floor size of 121.50m2 the North East takes the top spot for the largest average house sizes in England. From the bustling cities of Newcastle, Sunderland and Durham, to award-winning parks, gardens and picture-perfect rural villages and seaside towns - the North East has it all. Alnmouth, Tynemouth and Barnard Castle all made it onto the annual Sunday Times ‘Best Places to Live 2021’ list. With direct trains to Edinburgh and London only 3 hours away by train, the region is becoming ever more popular. The North East offers great value for money, with the regional average house price standing at £150,401 - among the lowest in the country. However, house prices in the region are on the rise with an annual increase of 9%.

The North West - 117.21m2

The North West comes in second place, with average house sizes of 117.21m2. With the Lake District, the Pennines, the Scottish and Welsh Borders, and scenic coastline coupled with vibrant cities including Manchester and Liverpool it’s a richly diverse region. The Sunday Times named Altrincham in Cheshire the ‘Best Place to Live in the Northwest 2021’ for the second year running and with two of the best schools in the region it’s just one of the many in-demand locations in the North West. The cost of buying a home in the North West comes in under the national average at £199,441, giving you more home for your money. Increasing in popularity, house prices in the area have seen the largest annual increase amongst our top 5, with prices rising 11.9%.

East Midlands - 109.34m2

The East Midlands is next up with average house sizes of 109.34m2. Thriving large cities including Nottingham, Leicester, Derby and Northampton, tranquil picture-postcard villages, and historic towns such as Stamford, Market Harborough, Bakewell and Oakham are all on offer. Situated less than two hours from the capital with good transport links, the region is becoming increasingly popular with those commuting to London. The region has recently become a hotspot for start-ups and with an abundance of career opportunities and affordable house prices, the East Midlands is an up and coming location. With average house prices sitting at £213,481 in the East Midlands you still get a lot of house for your money, although prices have increased by 10.6% over the past 12 months.

Yorkshire & The Humber - 106.03m2

Homes in Yorkshire and The Humber came in at 106.03m2, sitting above the national average. Home to not one but two national parks - the North York Moors and the Yorkshire Dales - there’s also plenty on offer for culture buffs with the Hepworth Gallery and Yorkshire Sculpture Park and of course Hull, the UK’s City of Culture 2017, all ready to explore. Leeds is home to the largest financial sector outside of the capital and a survey found workplace happiness in Yorkshire and the Humber to be the highest in the UK. With house prices averaging £183,404, there’s no denying you get value for money in the region, but be quick, as house prices in the region have increased 10.9% annually.

South West - 95.52m2

The South West just made it into the top 5, with average house sizes coming in at 95.52m2 for people shopping for houses at the national average price. With large cities including Bristol, Bath, Cheltenham, Salisbury, Exeter and Plymouth as well as pretty period towns like Bradford-on-Avon and Wadebridge to choose from, plus some of the lowest crime rates in the UK, it’s not hard to see why it’s the most expensive area on our list. The average cost of a home in the region is £266,182 but unsurprisingly prices are also on the up, increasing 9% annually. If it’s an outdoor lifestyle you’re looking for, you’d be hard-pressed to find a better location; from family-friendly beaches that rival the Mediterranean to camping on Dartmoor or horse riding on Exmoor, you’ll be spoilt for choice in the South West.

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