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Brits name Bristol as best-value location to buy a home

Bristol has been voted as the third best-value place to buy property in the UK
Following London, Cambridge has been ranked as the most expensive place to buy
3 in 5 Brits would say they won’t be able to afford an average UK property

The UK’s best value locations to buy a home have been revealed with Brits naming Bristol amongst their top choice of cities for getting the most from their budget.   

 

The South West experienced the highest annual house price growth in the country, with average prices increasing by 12.5% in the year to February 2022. But according to a new property survey, the nation believes Bristol offers value for money despite rising costs.  

 

The survey, Generational Property Hotspots, from McCarthy Stone, aimed to uncover the latest trends around property, looking at popular locations, perceptions of the property market and finances.   

 

Looking into the UK’s best value locations to live, the survey revealed that a shocking 3 in 5 (58%) Brits would not be able to buy a house at the average UK property price. According to the latest housing data, property prices hit a new average high of £296,000. 

 

Brits name best value and cheapest locations 

Brits ranked Bristol in third place for value, with 4.5 per cent of the vote. Birmingham came in first place for value with 4.9 per cent 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 city of Bath (4%) followed closely behind in the rankings, setting Bristol and Bath apart from the hefty price tags of Cornwall and Devon’s property.  

 

Top 10 locations Brits believe is best value to buy property 

Rank   

Location   

Percentage   

  

Birmingham   

4.9%   

  

Brighton   

4.7%  

  

Bristol   

4.5%   

  

Bath    

4%   

  

Belfast   

3.7%   

  

Cambridge   

3.6%   

  

Armagh   

3.2%   

  

Hull   

3%   

  

Aberdeen   

2.98%   

10   

Bangor   

2.98%   

 

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.  

 

“We know the importance of having these options and whatever your choice of where you want to live, you’ll also have the option to make your own dream home.”  

 

For more information on the UK’s dream homes and to view full findings per area, Click HERE

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