More mansion for your million

February 19th, 2010 by claire.mitchell

Phil and Kirstie might swear by location, location, location, but for some, space, space, space tops the property wish list.

It’s no secret that space usually comes at a premium, and more of a premium in some places than in others - that a million goes further up north than in London will shock no one.

But just how much further does it go?

We carried out some research into what £1 million can purchase in ten of the UK’s largest cities, and found that the difference could be up to triple the floor space. In the trade-off between location and space, where you choose to buy could mean you’re losing out on a not-to-be-sniffed-at 2,500 sq ft.

To get the most for your money, head to Liverpool, where you’ll find properties almost three times the size and £440 less expensive per sq ft than their counterparts in the capital.

House for sale in Liverpool, on the market for £999,500

House for sale in Liverpool, on the market for £999,500

London, of course, is the most expensive city, where you’ll find yourself paying two and a half times more per sq ft than you would across the border. In Glasgow, for approximately £250 per sq ft, you could find a spacious detatched house with between four and seven bedrooms, several reception rooms and a large garden, compared to the £690 per sq ft needed to buy a two-bed flat in London.

Is it worth it? Here’s what £1 million can buy you in ten of Britain’s largest cities:

London: In Kensington and Chelsea, £1 million will get you 1,443 sq ft – that’s a two/three bed flat in a Victorian terrace conversion – working out as £690 per sq/ft. In Hackney, you’ll get slightly more: a three-bed Georgian terraced house of 1,928 sq ft, costing you £518 per sq ft.

Bristol: A distant second on the list, Bristol will see you paying £344 less per sq ft for more than half the space again of a London property. You could find yourself a six-bed Georgian terraced house of 2,745 sq ft – that’s £346 per sq ft.

Birmingham: Your million will stretch slightly further here – it’s approximately £323 per sq ft, meaning you could find a house of 2,767 sq ft.

Leeds: Not much difference in Leeds, where £1 million equals £322 per sq ft. A five-bed detatched new build of 2,950 sq ft could be yours for the money.

Manchester: A 3,154 sq ft, six-bed period house works out as £315 per sq ft.

Nottingham: Another six-bed offering, modern this time, and covering 3,344 sq ft, meaning you’d be paying £291 per sq ft.

Edinburgh: A six-bed Georgian detatched house of 3,666 sq ft – that’s £259 per sq ft.

Leicester: Only five bedrooms this time, but big ones: 3,950 sq ft of modern detatched house means £253 per sq ft.

Liverpool: At almost three times the space you’d get in London (4,004 sq ft), you’d be paying £250 per sq ft for a four-bed, modern detached house.

Glasgow: A five-bed period townhouse of 3,981 sq ft would cost £249 per sq ft.

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