The UK’s best value locations to buy a home have been revealed with Brits naming their top choice of towns and cities for getting the most from their budget
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The British people have spoken and they have crowned Birmingham as the best value city to buy a home in the UK.
A recent survey done by McCarthy Stone revealed the nation ranked Birmingham as the top location when it came to the best value for money and where Brits believe is the place for the cheapest property in the UK.
As the UK housing market continues to grow from strength to strength, finding an affordable place to live is becoming increasingly harder. With a typical UK house now costing 8.8 times higher than the standard full-time salary, knowing where in the country you’re most likely to find value for your money can certainly help.
Top 10 best value locations to buy property
Brits ranked Birmingham in first place for value with 4.9% of the country choosing the west midlands hub as their top pick out of 48 locations.
Brighton (4.7%) earned its place as the UK’s second best-value location to buy a home. The coastal city, which is known for its independent eateries and seaside air, proves that quality of life is valued more than price alone when considering a location to live.
The neighbouring southwest cities of Bristol (4.5%) and Bath (4%) followed closely behind in the rankings, setting them apart from the hefty price tags of Cornwall and Devon’s property.
Top 10 cheapest locations to buy property
Public perception of the UK’s cheapest property locations saw Birmingham (6.9%) top the rankings again, followed by the Yorkshire city of Hull (5.5%). Northern Ireland cities Armagh, (5.3%) Belfast, (5.2%) and Bangor (4.5%) made up the remainder of the top five, with the area perceived to be a cheap place to buy.
Alastair Pegg, Marketing Director at McCarthy Stone, said: “Across the UK’s generations, the most consistent results we’ve seen from the findings is that variety is the most important thing for Brits, whether they’re a Gen Z or a baby boomer, or want to live in the north or south of the country.
“Even though the trends seem to show people dream of a life away from the big cities as they get older, there are still plenty of those who are just as keen to be in one of the nation’s hubs.
“No matter which generation it is, things like access to the outdoors and being near to family and friends always remain top of our priorities, so there will always be a different perspective on where someone’s dream location and property will be.”