For first time buyers especially, it can be difficult to work out exactly what size and quality of property you should expect for the money that you are able to spend; will your £240,000 mortgage get you a detached 3 bedroom house in a pleasant suburb of London, or a bungalow in Shrewsbury?
On this page, we’ll use our large selection of property data to try to illustrate what you should expect from a particular price range, focussing on the following five amounts: ‘£150,000’, ‘£250,000’, ‘£350,000’, ‘£500,000’ and ‘£1,000,000’; across a spectrum of 3 different urban areas, London (safe to say one of the more expensive areas in the UK), Portsmouth (a middle of the range location, featuring some higher and lower priced areas) and Sunderland (a comparatively lower priced area).
A 1 bedroom flat, with good travel links and nearby shops, Pittman Gardens is a great property for the price considering it’s locality to London.
In the Portsmouth area, £150,000 would be more likely to provide you with something in the region of this 2 bedroom flat in Southsea.
For the same price in Sunderland, you’ll be able to get a 5 bedroomed mid-terrace house within close proximity to both the city centre and university.
A quarter of a million pounds will secure a two bedroom first floor flat, located in close proximity to various useful transport links, including Plaistow Underground Station and Stratford railway stations
However, in Portsmouth you could expect a 3 bedroom semi-detached house, in a suburban area. There is also off street parking for numerous cars towards the front and a enclosed garden to the rear.
The largest property on this list available for £250,000, in Sunderland a quarter of a million pounds nets you a five bedroom house with an integrated double garage, modern installations; all located in close proximity to a country park!
In this price bracket, the kind of property that you can expect is in the range of this one bedroom duplex flat with quick access to local cafes, bars and restaurants and Dulwich’s excellent schools.
When this price bracket is carried across to Portsmouth, you’re more likely to get something similar to this 2 bedroom flat in the sought after, modern built Gunwharf Quays development; situated in close proximity to a major train station, and Portsmouth city centre.
In Sunderland, £350,000 nets you property similar to this 4 bedroom detached house, in an extremely low crime area, surrounded my impressive stretches of countryside!
In London, half a million pounds would buy you something similar to this 2 bedroom self-contained apartment, located in London Travel Zone 2; providing easy access to shops, restaurants and bars.
The same money would provide you with ownership of a 2 bedroom flat in a newly constructed modern residential building, located in a highly sought after area of Portsmouth’s prestigious seafront area.
The half a million pound price bracket will net you something a bit more special in the Sunderland area; located away from the city proper, this property features four bedrooms, a detached treble garage, a more than accommodating courtyard, and fantastic views of the surrounding countryside!
Should you find yourself in the fortunate position of being able to spend £1,000,000 on property in the London area, you should expect to be finding property in the range of this fifth floor, two bedroom flat, located in close proximity to Regent’s Park, and walking distance of Westminster itself.
Spending a million on property in Portsmouth would instead net you a penthouse flat, with multiple rooftop terraces, and extraordinary, unimpaired views of Portsmouth’s fantastic seafront.
Confirming the trend seen throughout this article, spending this kind of money in Sunderland will gain you a larger property, in a very low crime area; in this case a luxurious 7 bedroom detached bungalow, with modern decor!