Here’s how much a one bedroom flat costs in some UK cities:
In some boroughs, such as Hackney, the average flat price is £566,297. However, one bedroom flats do come in at the lower end of the scale, typically averaging between £230,000 and £600,000.
The average house price in Swansea is £166,838, although some one bedroom flats can actually exceed this figure. A flat in a high rise with views of the marina can cost around £170,000.
Budget flats in the Hull area cost between £22,000 and £40,000 on average. However, the city also offers a wide range of luxury apartments with great views, too, which can reach up to £250,000 or more.
Flats in Northern Ireland cost £100,613 on average. This figure has increased from an average £85,139 in August 2012; an 18% increase which suggests prices are rising quicker than in Scotland.
In the Leith district of the city, one bedroom flats cost around £117,158, with two bedroom options coming in at just a little bit more; £173,619.
On the outskirts of the city, one bed flats start at under £40,000. For an impressive period property, £155-£180,000 will get you something centrally located.
The city of Leeds offers a number of flats and apartments. Studios can start from as little as £58,500, with one bedroom flats coming in at around £81,000, and two bedrooms at £121,500.
The average flat price in the city of Birmingham is £121,000, which is approximately one quarter of the price of a similar property in London, and just under 3 x the average tech sector wage.
Flat prices in Leicester have been rising in recent years, jumping from an average of £159,292 in 2009 to £243,936 in 2016, although the rise in the cost of terraced homes has been much bigger.
It costs on average £118,000 to buy a one bedroom flat on the outskirts of Liverpool city centre. The average income in Liverpool is £23,000, which is roughly enough for a suitable mortgage.