In Britain, we are more used to measuring our homes by how many bedrooms it has, rather than by square footage – indeed, research suggests three in five do not know the size of their property by sqft.
But an in-depth study by Savills shows with the average property price of £340,837 the huge discrepancies in size across the country.
In London, that sum would typically land you a studio flat and 551 square feet, the estate agency giant says.
However, it would secure you a five-bedroom house in the North East, with a square footage of 1,955 – almost quadruple that of London.
Best value: Heading to the North East of England is where buyers will get the most from their money
Meanwhile, in Scotland, the average house price could buy a large four-bedroom house, 1,743 square feet in size.
In Wales, Yorkshire & The Humber and the North West, this figure would be enough for a four bedroom house just over 1,500 square feet, while it could be enough to afford a 1,300 square foot house in the East and West Midlands.
On the other end of the spectrum, £340,837 would purchase just 1,000 square feet in the South West, and 928 square feet in the East.
While homebuyers would have by far the least purchasing power in London, the second most expensive area is the South East, where the average would secure you 825 square feet, or a medium-sized two bedroom house.
Lucian Cook, head of residential research at Savills, said: ‘Exactly what an average just shy of £341,000 can allow you to purchase varies dramatically across Britain, from a small studio flat in central London to a large four or five-bedroom house in parts of North East England.
‘This has significant implications for who can buy where and, in turn, the pressures on different types and tenures of housing in different locations.
‘It also dictates how far households have to stretch themselves financially to meet their housing aspirations in the place they would like to call home.’
| Region | Square footage | Home type |
|---|---|---|
| North East | 1,955 | Medium 5 bed house |
| Scotland | 1,743 | Large 4 bed house |
| Wales | 1,593 | Medium 4 bed house |
| Yorkshire & The Humber | 1,566 | Medium 4 bed house |
| North West | 1,536 | Medium 4 bed house |
| East Midlands | 1,334 | Small 4 bed house |
| West Midlands | 1,308 | Small 4 bed house |
| South West | 1,000 | Small 3 bed house |
| East of England | 928 | Small 3 bed flat |
| South East | 825 | Medium 2 bed house |
| London | 551 | Medium 1 bed flat |
Square footage is not the be-all and end-all when it comes to buying a home, with a mixed housing stock of extremely old properties all the way to new builds.
With three in five Britons not knowing the size of their homes in square feet, number of bedrooms is a more traditional marker of size.
For example, a house you are looking to buy might have an enormous kitchen, but if you aren’t especially into cooking then there might be an alternative property that is configured in a way that suits your needs better.
However, if you are looking to get the most square footage for your money, choosing Easington, County Durham, would allow you to afford a 2,858 square foot, five bedroom house.
The village sits 12 miles south of Sunderland.
Meanwhile, the £340,837 would typically secure 2,625 square feet in Rhondda, Wales or 2,551 square feet in Na h-Eileanan an Iar, in the Western Isles of Scotland.
On the other hand, in St Albans, Hertfordshire, you could by just 547 square feet, equivalent to a one-bedroom flat.
The average would also only buy you less than 600 square feet in Esher & Walton, Epping Forest and South West Hertfordshire.
In central areas of London, meanwhile, your purchasing power would be greatly reduced.
| Constituency | Sq ft | Home type | Constituency | Sq ft | Home type |
|---|---|---|---|---|---|
| St Albans | 547 | 1 bed flat | Easington | 2,858 | Large 5 bed house |
| Esher & Walton | 553 | 1 bed flat | Rhondda | 2,625 | Large 5 bed house |
| Epping Forest | 553 | 1 bed flat | Na h-Eileanan an Iar | 2,551 | Large 5 bed house |
| South West Hertfordshire | 583 | 1 bed flat | Middlesborough | 2,508 | Large 5 bed house |
| Mole Valley | 601 | 1 bed flat | Liverpool, Walton | 2,445 | Large 5 bed house |
In Kensington, for example, you would be able to afford just 220 square feet or 236 square feet in Westminster.
In Dagenham, on the other hand, your money would stretch to 770 square feet.
We picked three homes that are currently on the market with Rightmove, that you could snap up for around the average UK house price.
Family home: This property has both family bathroom and an ensuite
1. Cardiff: Three-bed house, £350,000
This three-bedroom semi-detached home in northwest Cardiff is currently on sale for £350,000.
The newbuild boasts a double driveway, a spacious kitchen and two bathrooms.
South of the river: This semi-detached house is located near to three different train stations
2. Lewisham: One-bed house, £345,000
This one-bedroom property in Lewisham, South London, is on the market for £345,000.
The semi-detached house is set over two floors, and has a private patio.
The property is located near to bus links and amenities, as well as Catford train station.
Edinburgh fringe: This three-bed property is located on the edge of the city, near to the town of Musselburgh
3. Edinburgh: Three-bed house, £350,000
This three-bedroom detached house in Edinburgh could be yours for £350,000.
The house, which has a two-car driveway, boasts a large kitchen diner, and is within easy reach of Newcriaghall train station.
