Yahoo Finance Cost of Brits' 'dream home' across the UK revealed
The north-east is the most affordable place in the UK for Brits to buy their “dream home”, research suggests.
According to a survey of 2,000 Brits by The Guild of Property Professionals, the average Brits’ ideal home is a 188 square metre detached house with four bedrooms and three bathrooms.
But how much would this cost, depending on what part of the nation you live in?
In the north-east, a property of this kind costs just £378,760 ($481,000) — cheaper than any other part of the nation, the agency’s automated valuation model — which identified prices in regions across the UK — found.
At the other end of the scale, a London dream home costs over five times this amount, at a whopping nearly £3m.
READ MORE: The 'undesirable' features that could knock £50,000 off the value of your home
A perfect home in the second-cheapest part of the UK, Wales, costs about £405,183, while Yorkshire and the Humber claims the third-cheapest spot, with four-bed, three-bath 188 square metre detached houses in this region costing about £446,818.
The East Midlands and north-west round out the top five cheapest regions, with the ideal home costing £469,208 and £487,910, respectively.
The second most-expensive place to buy a house of this type, outer London, still costs less than half of what a dream house in the capital does — just £989,235.
The south-east is the third most-expensive, at £782,333, while the east of England steals the fourth spot, at £682,837, and the south-west came in as the fifth most-expensive, at £604,471.
Meanwhile, the East Midlands landed right in the middle, with the average Brits’ ideal home costing about £510,389.
READ MORE: Most expensive new-build home in Mayfair, London is a £50m glass mansion
Nearly half, or 46% of Brits said their dream home would be a detached property, with 16% preferring a bungalow, and one in 10 saying they would prefer a flat.
While a garden is a must for the ideal home, according to nearly four in five (79%), it seems the recent home-working experience in the midst of COVID-19 has led to nearly half (45%) to want a home office, too.
Other desired amenities include a large kitchen (74%), a garage (63%), and a conservatory (54%).
The survey also showed that a third of Brits would ideally like a swimming pool or spa in their homes, while a quarter would like to relax in a home theatre, and 28% want to work out at home in their own gym.
However, the finer details of the property alone doesn’t make it the ultimate dream home — the area it is in also plays a key role. Many would like to move away from the city, with over a quarter (27%) of Brits wanting to live in more open, rural areas now — up from a fifth pre-lockdown.
