Property for sale: Sheffield still one of cheapest places to buy a house

Research by property experts shows the house price per square metre in Sheffield is £1,553, making it cheaper than Leeds, Manchester and Newcastle.

Not surprisingly, London tops the price list with a figure seven times more than Sheffield at £7,731.

The research comes from the Open Property Group, a professional house buying company, which used address-based matching between the Land Registry’s price paid data and property size information from the Ministry for Housing.

Only Bradford and Stoke were cheaper than Sheffield. Houses in Stoke sell for an average of £1,104 per square metre, according to the data.

Openpropertygroup.com Managing Director, Jason Harris-Cohen said: “While the British public is used to seeing a house price that reflects the entire property package, knowing the actual cost per square metre is a far more effective way of evaluating value for money.

“Using this method, buyers can compare the price of a like-for-like size property anywhere in the country, without superficial factors in the equation, which is essential for buy-to-let purchasers or anyone looking to add value.

“Pricing per square metre, however, isn’t just for investors. Being able to compare the cost of each square metre in different UK locations feeds into a key property trend for 2022 – knowing exactly how much space your money will buy you. This is important for many movers as there’s still pent-up demand for extra bedrooms, living space and a home office.”