Tough at the top of UK property ladder says survey

Posted: 10 Nov 2006 10:49:43 GMT


            Property News - Tough at the top of UK property ladder says survey

The gaps between the "rungs" on the housing ladder get further apart the higher you climb, research for Propertyfinder has revealed

The gaps between the "rungs" on the housing ladder get further apart the higher you climb, research for Propertyfinder has revealed.

The average cost of trading up from a one bed to a two bed property is £38,000, rising to £55,353 for a third bedroom and £111,402 for a fourth bedroom.

The picture hides a wide degree of regional variation, although Glasgow is the only city where moving up the property ladder becomes easier with each step.

Liverpool has the steepest rise, with the £25,425 cost of trading up from a third to a fourth bedroom four times the £5,818 cost of trading up from one to two bedrooms.

"This research shows how, far from getting easier, the climb gets tougher and the sums ever greater as you seek a larger home," said Warren Bright of Propertyfinder.

"A fourth bedroom costs not far off the same price as an entire one bedroom property.

"Of course, larger houses have additional reception rooms and bigger gardens, but the number of bedrooms still provides a reliable guide to the UK's property ladder."

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