Exactly what a national average just shy of £341,000 can buy you varies dramatically across Great Britain.

The analysis of data at a parliamentary constituency level shows that the greatest square footage can be bought in the North East of England, where a buyer would be able to purchase a 1,955 sq ft home, on average – a typical medium-sized five-bedroom home.

This is more than 3.5 times the space you would get for your money in London, where just 551 sq ft can be purchased, or a medium-sized one-bedroom flat.

Where can the most and least space be bought? 

In London, the average house price will net you the least amount of space in prime locations Kensington (220 sq ft), the City of London and Westminster (236 sq ft), and Chelsea and Fulham (277 sq ft). Meanwhile the largest amount can be secured in Erith and Thamesmead (780 sq ft), Barking (778 sq ft) and Dagenham and Rainham (770 sq ft).

Beyond London, the average house price equates to the least amount of space in the South East. Here a buyer will only be able to purchase a two-bedroom home (or 825 sq ft), or smaller, across 62% of constituencies. 

However, two of the five locations where the least amount of space can be bought (outside London) are located in the East of England (St Albans, 547 sq ft, and South West Hertfordshire, 553 sq ft).

The most amount of space can be bought in Easington, County Durham (2,858 sq ft), followed by Rhondda in South Wales (2,625 sq ft).

What impact does this have on buyers and policymakers? 

It’s what makes the housing market so fascinating. But it also has implications for labour and social mobility, which is why housing and the building of new homes remain so important from both a political and economic perspective.

In particular, this has implications for who can buy where and, in turn, the pressures on different types and tenures of housing in various 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.

Further information

Contact Lucian Cook