What does the average asking price of a home give you? We take a look at six houses you can buy on a budget of £355,000
- The average asking price in the UK has risen 10.4% in a year to £354,564
- We pick six homes across the country with the average asking price
- Our selection ranges from a three bed house in Devon to a five bed house in Scotland
The average price of a home in Britain has risen to an all-time high, crossing the £350,000 mark.
They are up 10.4 percent in the past year to an average of £354,564, according to Rightmove.
The increases come amid an imbalance between strong buyer demand and a low number of homes available for sale.
There are now more than twice as many buyers as sellers in the market.
What is the average asking price for you? This semi-detached house in the Welsh coastal village of Llanon is up for sale for £355,000 (scroll down for more details)
Tomer Aboody, of real estate lender MT Finance, said: ‘While asking prices continue to rise, buyers can’t risk sitting around securing their new home for fear of missing out.
‘Many are willing to pay record prices due to a lack of supply, especially now that they can still benefit from the low mortgage rates.’
And North London estate agent Jeremy Leaf explains: ‘We have found the greatest interest in larger, higher-value family homes, where buyers seem to find it easier to shake off concerns about rising interest rates.
“There is not much demand for flats, especially apartments without outdoor space or good connectivity, because too high affordability and deposit collection are becoming more and more of a problem.”
Below we take a quick look around the country to find some mid-priced homes, each with a price tag of £355,000. The question is, which one would you choose?
1. Four Bedroom Semi Detached, Llanon, Wales
This one semi-detached house located in the coastal village in Wales van Llanon has been in the same family for 100 years.
It has four bedrooms and a garden with a pond and an aviary. The land to the rear of the property has previously had planning permission for a detached three bedroom bungalow.
It is up for sale for £355,000 and is being sold through estate agents Purplebricks.
2. Three Bed Detached, Kingsbridge, Devon
This one three bedroom house located in the Devon village of Loddiswelljust over three miles from the market town of Kingsbridge.
It is set over three levels and has a wood burning stove in the living room. The property has a price tag of £355,000 and is being sold through Marchand Petit estate agents.
3. Five Bed Detached, Broxburn, Scotland
This one five bedroom family home in Broxburnin West Lothain in Scotland.
In addition to a garden at the front and rear of the house, there is also a driveway for several cars and a detached double garage.
The detached house is being sold by Alba estate agents and has an asking price of £355,000.
4. Four Bedroom Detached, Wynyard, County Durham
This one four bedroom house surrounded by similar executive houses and includes a dual aspect living room, TV points in each bedroom and a driveway with ample space for five cars.
It is being sold by Igomove brokers for £355,000.
5. Four Bedroom Detached, South Littleton, Worcestershire
This one detached four bedroom is in the pretty rural village of South Littletonabout eight miles northeast of the market town of Evesham of Worcestershire.
It is on the market for Hayman-Joyce estate agents with a price tag of £355,000.
And what about £355k in London?
House prices in London are generally higher. And while that continues to be the case, the capital lost some of its appeal during the pandemic as buyers sought more space after successive lockdowns.
Flats, in particular, lost their luster if they had limited access to open green spaces, whether that was a private garden, communal outdoor areas on a development, or near a public park.
And some flats already faced problems before the pandemic hit, such as toxic leasehold canons and dangerous cladding, which prevented their owners from selling.
Despite this, flats have regained some of their value as workers return to the office.
Take, for example, this property in Wapping in East London. It is leasehold and has one bedroom. It is for sale for £355,000 through Docklands Estates.
This one bedroom long lease flat in Wapping in East London is for sale for £355,000 through Docklands Estates