North vs South: Where can investors get more bedrooms for the money?

North vs South: Where can investors get more bedrooms for the money?

0:01 AM, 1st May 2024, About 2 months ago 1

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New research has revealed huge differences in property sizes across major UK cities for the average house price, offering valuable insights for investors.

Analysing more than 3,200 properties, Mojo Mortgages found the most common property for the national average price (£261,142) is a 2.18-bedroom semi-detached house with 1.26 bathrooms.

However, there are stark regional variations in what property investors get for their money.

Top 10 cities where the average house price can buy the most bedrooms

Northern cities like Middlesbrough offer detached houses with more bedrooms for the national average house price, compared to Southern cities where the same budget gets you smaller flats.

Landlords in Northern cities like Middlesbrough can potentially secure a 3.85-bedroom detached house for the average price, ideal for families and likely to command strong rents.

Sunderland and Kingston upon Hull follow closely, with the national average able to buy detached properties with 3.67 and 3.5 bedrooms respectively.

Mojo says these property sizes are likely to appeal to families and deliver a solid rental yield for landlords.

Fewer bedrooms for the same budget

In contrast, Southern cities offer smaller flats and fewer bedrooms for the same budget – and limited rental potential for the investor.

Brighton has the lowest, with buyers typically affording flats with 1.31 bedrooms.

Oxford and Cambridge follow with flats offering 1.5 and 1.56 bedrooms respectively.

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Paul Essex

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16:35 PM, 1st May 2024, About 2 months ago

Still awaiting their report on the denomination of the Pope.

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