Editor's note: This brief was summarised by The Property AI Newsroom from a report by PropertyWire. Read the original article for full details.

Rightmove Data Reveals Stark Regional Differences in UK Property Value

New analysis from Rightmove highlights significant regional variation in what the average UK asking price of £378,000 can purchase. The data shows that this sum can secure a five-bedroom house in parts of Scotland and northern England, but typically only a studio or one-bedroom flat in several London boroughs.

Rightmove’s figures indicate that in North Lanarkshire, Scotland, the average asking price of £376,000 corresponds to a five-bedroom detached house. Similar five-bedroom semi-detached properties are available for around the same price in Charnwood, Nottingham, and County Durham. In Liverpool, five-bedroom terraced houses average £356,300, while in Kirklees and East Riding of Yorkshire, comparable properties are priced at £359,300 and £337,000 respectively.

In contrast, the London market presents a different picture. In Tower Hamlets, the average asking price for a studio flat is £357,500, and in Hackney it is £341,000. One-bedroom flats in Richmond upon Thames average £362,300, with similar properties in Haringey priced at £345,600.

The analysis comes as estate agents adjust their marketing strategies in response to changing market conditions. According to Rightmove, buyers are weighing up value more carefully, and properties that are well-priced for their size, location, and condition are more likely to attract interest, especially with the number of homes for sale at historically high levels for this time of year.

The findings underscore the ongoing north-south divide in UK property values, with implications for investors considering portfolio diversification. The data suggests that buyers with fixed budgets face significantly different property options depending on location, and that property investment in northern regions continues to offer greater space per pound spent. The persistent premium attached to London property is also evident, where demand for smaller units remains high despite limited purchasing power compared to other UK regions.