And these prices aren’t deterring ambitious homeowners. In fact, houses are selling faster than ever with houses taking an average of 33 days to sell. Three years ago, sellers were waiting an average of 67 days until completion.
It has become a fast-paced, highly competitive market, in which first time buyers are increasingly alienated. But that’s not to say that it’s totally unaffordable across the board. There are certainly some areas in the UK that are significantly more expensive. Read on to find out which spots are the most desirable.
The most expensive areas in the UK
1. Winchester
Surprisingly, Winchester takes over London’s inaccessible prices with an average house price of £630,432. What makes this city so desirable? Maybe it comes down to the historic buildings, dreamy architecture, low crime rate and excellent schooling. With London just an hour away and the coast down the road, its geographical location is hard to beat.
2. Oxford
Oxford’s calling card has to be its world-famous university. Aside from the university’s historic buildings that are dotted around the city, Oxford also enjoys a great dining scene, varied job opportunities, amazing museums and easy access to London and the countryside. Median houses can cost up to £486,928.
3. Bath
Jane Austen’s social playground, Bath has to be one of the most stunning cities in the UK. Not only does its Roman architecture and thermal baths draw prospective buyers, but it also boasts a vibrant theatre, dining and shopping scene. Average houses cost around £476,470.
4. Truro
An average house in Truro costs £356,788, which you might think a bit low considering its high ranking. But, compared to its mediocre average salary of £29,558, it is considered expensive. Poldark’s stomping ground has now transformed into a contemporary cathedral city with plenty of unique charm.
5. Chichester
Coming in at fifth place is Chichester with average prices reaching £446,899. It’s a bustling city that enjoys a fantastic location with easy transport links to the coastal cities like Brighton and Portsmouth, and the Big Smoke just 90 minutes away.
It should come as no surprise that Southern England is the most expensive for prospective homeowners. If you manage to find a house that you can afford, consult with a qualified conveyancing solicitor to guide you through the buying process. Prospective buyers will also be glad to hear that the current upward trend of house prices is set to fall in the near future.