When it comes to buying property, we all know we can get more bang for our buck in certain areas of the country.
And by ‘bang’, we mean floorspace. New research reveals that the regional ‘space gap’, the amount of space you can get for the UK average house price, varies hugely depending on where you choose to buy.
The study, conducted by Space Station, took figures from almost 4,000 data points taken from 650 live property ads within the UK average price bracket of £230,000 and £240,000.
West Midlands buyers will get the best value in terms of space, with houses in this region boasting around 30% more room than the average of 81.6 square metres – at 104.92 square metres.
Yorkshire and the Humber residents can also get plenty of space for their money, ranking second in terms of square meterage at just short of 100 square metres (98.4).
Unsurprisingly, London is where you will get the least amount of floorspace for your money.
Buyers in the capital can expect a tiny 45.75 square metre home for the UK average house price, less than half of the space in West Midlands homes.
House buyers in London are also unlikely to have a garage or utility space, with none of the houses analysed featuring these, with an average of just 0.26 when it comes to built-in storage.
For the average UK house price, West Midlands buyers will find that 26% of homes include a garage and an average of 1.78 built-in storage such as wardrobes, cupboards or pantries.
A garage can add as much as 5% to the price of an average home, so those living in Yorkshire and the Humber are lucky, as more than half (54%) of homes in the region have a garage. Second most likely is the North East, with 48% of homes featuring a garage.
Built-in storage is also an attractive feature for potential buyers, and Scotland homes rank top for the most built-in storage, with an average of 3.7 built-in wardrobes or storage cupboards. Followed closely by Yorkshire and the Humber with an average of 2.58 and the South West with 2.2.
Only 7.83% of UK homes come with a built-in utility room. But, homes in the North West are most likely to have one (22%). The North East is second most likely (16%) and the East Midlands is third (12%).
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