UK home price gap: five‑bedroom houses in North Lanarkshire vs studio flats in London

Rightmove’s analysis shows that the UK’s average asking price of about £378,000 can buy a five‑bedroom detached house in North Lanarkshire, Scotland (average £376,052) and other large family homes in the north and midlands, while in London the same budget typically secures only a studio flat (e.g., Tower Hamlets £357,556) or a one‑bedroom flat in places like Richmond upon Thames. The report highlights a stark north‑south divide in property value, with locations such as East Yorkshire and Kirklees also offering extra space for the national average price.

HM Revenue & Customs data for May indicated roughly 98,450 home sales, a 17 % increase on the same month a year earlier, though sales slowed compared with April as higher mortgage rates and recent stamp‑duty changes took effect.