What buyers can get for the average asking price in different parts of the country has been analysed by Rightmove.

The current average of £378,000 will secure a five-bedroom house in some areas, but only a studio flat in others.

No surprise

It is perhaps unsurprising that in London – where values tend to be higher – the amount goes the least far, with Scotland and the Midlands or North providing the best value.

In North Lanarkshire, Scotland, for example, buyers can find a five-bedroom detached house for an average asking price of £376,000.

Meanwhile, in Charnwood, Nottingham, and County Durham, there are five-bedroom, semi-detached homes for around the same price.

In Liverpool, a five-bedroom terraced house averages £356,300. In Kirklees, buyers can find a five-bedroom terraced home for £359,300, and in East Riding of Yorkshire, the same house averages £337,000.

Studio price

However, in parts of London, the same figure typically buys just a studio or one-bedroom flat, including in Richmond upon Thames, Tower Hamlets and Hackney.

In Tower Hamlets, the average asking price of a studio flat is £357,500, while in Hackney, it averages £341,0000.

And in Richmond, a one-bedroom flat has an average asking price of £362,300, while in Haringey, the same sized flat is £345,600.

Stand out

Colleen Babcock, Head of Partner Marketing at Rightmove, says: “Buyers are weighing up value more carefully in the current market, and this analysis shows just how much variation there can be in what the same budget buys in different parts of Britain.

“For some movers, the price of an average home could mean a flat in a more expensive city market, while in other areas it could stretch to a much larger family home.

“With the number of homes for sale at historically high levels for this time of year, homes that feel well-priced for their size, location and condition are more likely to stand out.”

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