Get five apartments in Manchester for the price of one in London

Get five apartments in Manchester for the price of one in London

How much would you expect to pay for a two-bedroom flat? New analysis has revealed the differing costs across the world, as well as how the UK’s major cities compare.

City centre dwellers in Hong Kong will need particularly deep pockets if they want to secure themselves a two-bedroom flat there, with comparison website Finder listing it as by far the most expensive country out of the 91 that were analysed in their latest research. There, the average price per square metre in a city centre location comes in at a huge £21,727, bringing the cost of an average two-bed flat to £1,280,000.

The next most expensive countries, which were ranked using data from cost of living site Numbeo combined with an average two-bed flat size of 59.11 square metres – the UK average – were Singapore at £781,000, Switzerland at £543,000, South Korea at £438,000 and Japan at £364,000.

The UK was listed in 16th place with an average price per square metre of £3,839 and the median cost of a two-bedroom flat coming in at £227,000.

Millennials in the city

However, looking at specific cities, after Hong Kong, London came in second place as the most expensive place to buy a two-bed, with an average cost of £788,000 – which is 529% of the global average of £149,000.

In the UK, city centre living is hugely popular among millennials looking to both buy and rent, as more people now prefer to live closer to the heart of the action – and jobs – rather than spend longer commuting. While the capital is arguably out of reach for all but the most affluent buyers, other cities were listed as much more affordable options in the statistics.

Moving away from London

In Manchester, for example, the average price of a two-bedroom city centre flat according to the data is £144,000, which is 97% of the global average and 63% of the UK average. For the price of one London flat, you could potentially purchase five equivalent apartments in Manchester, making it a much more viable option for the likes of first-time buyers as well as property investors.

Meanwhile, two-bedroom flats in Liverpool came in at slightly more costly according to the research with an average of £294,000, which still brings the city in at a much more affordable cost compared to the capital.

Commenting on the figures, Jon Ostler, UK CEO at, said: “These statistics show that prices for a city centre flat in the UK are generally comparable to our European and global counterparts.

“London is very much the exception to this rule though, with a central flat being out of reach for almost all young Brits trying to get a foot on the property ladder.”

Self-certified Sophisticated Investor

Please read

I declare that I am a self-certified sophisticated investor for the purposes of the restriction on promotion of non-mainstream pooled investments. I understand that this means:

I am a self-certified sophisticated investor because at least one of the following applies:

I accept that the investments to which the promotions will relate may expose me to a significant risk of losing all of the money or other property invested. I am aware that it is open to me seek advice from someone who specialises in advising on non-mainstream pooled investments.

High Net Worth Investor

Please read

I make this statement so that I can receive promotional communications which are exempt from the restriction on promotion of non-mainstream pooled investments. The exemption relates to certified high net worth investors and I declare that I qualify as such because at least one of the following applies to me:


Sign up for first access to new developments and exclusive property investment opportunities.

We send limited and targeted emails on new launches and exclusive deals which best fit your areas. We are trusted by over 30,000 active buyers as their source for new stock.

  • New property developments
  • Professional market reports
  • Property deal alerts
  • Development updates
Manchester property investment


Receive trending news straight to your inbox and stay up to date on all of the property market trends and advice.

Established since 2005 we are a leading voice of authority and commentary on the UK property market. Our news is trusted by Apple News & Google News.

  • UK housing market
  • Mortgage & money
  • Buy-to-let landlords
  • Guides & advice

Talk to us

Speak to our UK property experts today:


+44 (0) 333 123 0320

Open from 9am-6pm GMT


+852 6699 9008

Open from 9am-6pm HKT