A breakdown of the average mortgage in each region
The most popular UK region for Uswitch mortgage quotes in 2023 was Greater London, accounting for less than a fifth (17.51%) of the overall total. This produced an average London mortgage of £266,822 – the highest of all UK regions.
This was followed by the South East with an average mortgage value of £210,877. With around one in 11 (11.44%) quotes from the South East, this region was almost a quarter (23.4%) less than the average London mortgage.
By contrast, the UK region with the lowest average mortgage for 2023 was Northern Ireland. Based on Uswitch consumer quotes between January and December 2023, the typical mortgage for a property in Northern Ireland was just under £125,000 – more than half the amount compared to London.
A breakdown of the average mortgage for UK cities
After London, Birmingham is the next most popular UK city for mortgage quotes in 2023 (3.2%), with an average mortgage of around £154,000 – around three-fifths (58.7%) compared to the typical property in London.
Glasgow and Manchester both accounted for less than 2.5% of mortgage quotes in 2023, with respective average mortgage values of £130,564 and £146,070.
Read the full article: https://www.uswitch.com/mortgages/mortgage-statistics/
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