According to a recent study by Good Move of over 2,000 home owners, most people were unaware of how much property in their area was worth.
Do you know how much a property costs here in Glasgow? It turns out that Glasgow is one of the least knowledgeable cities!
The research uncovered that people in London were least aware of the property prices, guessing them to be £160,000 less than they really are.
Other cities in which the residents were unaware of how affordable property were include Belfast and Nottingham where the average person guessed the property to be £60,000 more than they area. In addition, most were unable to identify the cost of property in their home town and here in Glasgow, people had no idea that property was so affordable.
The 10 UK cities which those surveyed were least knowledgeable about were:
- London – average 2019 house price is £472,753
- Glasgow – average 2019 house price is (£137,970
- Belfast – average 2019 house price is £129,451
- Nottingham – average 2019 house price is £145,479
- Bristol – average 2019 house price is £278, 533
- Liverpool – average 2019 house price is £136, 517
- Manchester – average 2019 house price is £179,506
- Edinburgh – average 2019 house price is £265,894
- Newcastle – average 2019 house price is £166,662
- Sheffield – average 2019 house price is £166,916
Those who were surveyed were asked to estimate how much house prices had changed in the last three years, since the EU referendum. Figures show that property have risen by £20,000 on average but many people in Britain seem to be unaware of this.
In all but one of the cities in the study, those living there believe that their local house prices have increased by less than they actually have. More than 13% think house prices have decreased by £10,000. This is due to the negative press surrounding Brexit and house prices, with Brexit not having the scale of impact that many believed.
If you are looking for an affordable place to live, award-winning developer Urban Union has a range of properties for sale in regenerated communities at affordable prices. Talk to us to find out more.