Property hotspots where you get the lowest price per square meter revealed – with this seaside town top

Homebuyers looking for the ‘best bang for their buck’ should consider Hartlepool, according to data released by Zoopla.

The real estate portal revealed the cheapest and most expensive property markets based on price per square meter.

He revealed that the average house in the UK now costs £300 per square metre. This means that if someone is buying a 1,000 square foot property and selling it for £300,000, the buyer is paying on average £300 per square foot.

Based on the UK average of £300 per square foot, Zoopla estimates that a standard-sized double bed takes up an average of £8,280 of space.

> What’s Next for Mortgage Rates in 2024

The average UK house now costs £300 per square meter, according to Zoopla

The total square footage of the property is obtained by adding the square footage of each room. The square footage of each room is obtained by multiplying the length by the width.

Most floor plans will provide the total square footage and square footage of a property. £1,000 square feet equals 92.9 square meters.

> When will interest rates fall again?

The seaside town of Hartlepool in County Durham has the lowest cost per square meter at £118, according to Zoopla. This means a double bed covers the equivalent of £3,257 of space.

Kensington and Chelsea in London were found to be the most expensive at £1,373 per square foot, which equates to £37,895 for a double bed.

The average price per square meter in London as a whole is much less than £585, which shows how much prices can vary across the capital.

Outside the capital, there are still areas where buyers will have difficulty finding a property below the national average.

There are some city centers such as Edinburgh where buyers can expect to pay £410 per square foot on average, Birmingham at £420 and York at £370.

> Best mortgage rates for first-time buyers

Bargain: Hartlepool is the cheapest area to buy when looking at pounds per square foot at £118

Those looking to buy in villages close to National Landscapes (formerly Areas of Outstanding National Beauty) and national parks can also expect to pay above the average £per square metre.

For example, in the market town of Bakewell in the Derbyshire Dales, buyers can expect to pay £360 per square foot on average.

Aberdyfi, on the edge of Eryri National Park in Wales, should also be prepared to pay more than the national average of £330 per square foot.

> The best buy-to-let mortgages for landlords

Deep pockets: Kensington and Chelsea are the most expensive areas in the UK, with homes costing an average of £1,373 per square foot

Those looking for a home in the south of England may have a little more luck finding homes for less than £300 per square foot.

Zoopla estimates that a third of areas in the south of England offer homes with an average price of £300 or less per square meter.

In this area, historic seaside resorts and port towns offer the most affordable homes on a £per square meter basis, up to 45 per cent below the regional average.

Areas worth considering for best value for money are Portsmouth at an average of £230 per square foot, Plymouth at £180 per square foot and Great Yarmouth at £180 per square foot.

Outside the south of England, the average price per square foot varies between £145 per square foot in the North East and £240 in the West Midlands.

What property types offer the best pounds per square meter

Semi-detached houses offer the best value for money, with the price per square meter ranging from £225 for a two-bed property to £235 for a four-bed property.

Although detached and semi-detached homes have a higher price per square meter, they tend to offer more space and external features such as off-street parking, something that should be taken into consideration by potential buyers.

Two-bedroom semi-detached and semi-detached homes are the same size at 860 square feet, according to Zoopla.

The difference between an average three-bedroom terrace house and a three-bedroom semi-detached house is 20 square feet – enough to accommodate an extra desk, something that has become more desirable in recent years due to hybrid working.

However, when examining the space offered by a semi-detached house and a semi-detached house with four bedrooms, the difference, 70 square meters, is significant. This amount of space is enough for an extra bathroom, small office or pantry.

Is price per square foot a good measure of value?

Buyers considering price per square meter generally tend to be investors, whether buying to let or developing and selling.

While it can be a useful metric to help you decide between the properties on your list, there is a danger that it will prevent you from choosing the house you really like best.

Ultimately, looking at what types of similar properties are selling in the area should give you a good indication of value without having to obsess over square footage.

Izabella Lubowiecka, senior property researcher at Zoopla, said: “In many other countries, buyers often pay more attention to floor space and cost per square meter or foot when looking for their next home and they are right to do so.

‘Looking at this measurement is a much more logical way of assessing value for money, allowing buyers to compare different homes without having to set foot inside a property.

‘A property that comes with an extra bedroom or bathroom may still not have the right amount of additional space the buyer is looking for. Examining a property’s square footage can help buyers identify whether a property has that space and whether the cost per square foot is worth it.