Rightmove says affordability constraints mean more buyers may consider moving to better value areas.
In particular, it’s looked at what the current average asking price – approximately £378,000 can buy in different local areas, based on current homes listed for sale.
The analysis highlights clear regional differences in what buyers can typically afford for this budget.
In Scotland and the north an average-priced home can stretch to a four or even five-bedroom property in some areas.
By contrast, in London and parts of the South East, the same budget is more commonly associated with smaller homes, such as flats or one-bedroom properties.
In North Lanarkshire, the average asking price of a five-bedroom detached house is £376,052, slightly below the national average.
In Charnwood, buyers can find a five-bedroom semi-detached house for an average of £377,605, while in Nottingham, a five-bedroom semi-detached home averages £370,786.
There are also larger family homes available for below the national average in parts of the North and Midlands.
In County Durham, the average asking price of a five-bedroom semi-detached home is £367,424, while in Liverpool, a five-bedroom terraced house averages £356,357.
In Kirklees, buyers can find a five-bedroom terraced home for £359,308, and in East Riding of Yorkshire, a five-bedroom terraced house averages £337,642.
Colleen Babcock, Rightmove’s property expert 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. Affordability remains a key driver of buyer behaviour, and many movers are taking the time to compare what they can get for their budget before making a decision.”
What £378k buys you across the country
| Region | What £378,000 buys you | Average asking price (May 26) |
| East Midlands | 4-bed semi-detached | £335,423 |
| East of England | 3-bed semi-detached | £377,448 |
| London | 1-bed flat | £369,305 |
| North East | 4-bed detached | £369,075 |
| North West | 4-bed semi-detached | £377,202 |
| Scotland | 4-bed detached | £376,893 |
| South East | 3-bed flat | £375,917 |
| South West | 3-bed flat | £348,836 |
| Wales | 4-bed semi-detached | £341,098 |
| West Midlands | 4-bed semi-detached | £376,768 |
| Yorkshire and The Humber | 4-bed semi-detached | £347,104 |
Where money goes furthest
| Area | Region | What £378,000 buys you | Average asking price (May 26) |
| North Lanarkshire | Scotland | 5-bed detached house | £376,052 |
| County Durham | North East | 5-bed semi-detached house | £367,424 |
| Nottingham | East Midlands | 5-bed semi-detached house | £370,786 |
| Charnwood | East Midlands | 5-bed semi-detached house | £377,605 |
| East Riding of Yorkshire | Yorkshire and The Humber | 5-bed terraced house | £337,642 |
| Liverpool | North West | 5-bed terraced house | £356,357 |
| Kirklees | Yorkshire and The Humber | 5-bed terraced house | £359,308 |
| South Tyneside | North East | 4-bed detached house | £378,048 |
| Leicester | East Midlands | 4-bed semi-detached house | £377,173 |
| Worcester | West Midlands | 4-bed semi-detached house | £377,175 |
Where money stretches the least
| Area | Region | What £378,000 buys you | Average asking price (May 26) |
| Tower Hamlets | London | Studio | £357,556 |
| Lambeth | London | Studio | £347,980 |
| Hackney | London | Studio | £341,021 |
| Southwark | London | Studio | £327,746 |
| Camden | London | Studio | £324,470 |
| Wandsworth | London | Studio | £322,928 |
| Islington | London | Studio | £302,859 |
| Hammersmith and Fulham | London | Studio | £273,512 |
| Richmond upon Thames | London | 1-bed flat | £362,322 |
| Haringey | London | 1-bed flat | £345,677 |
