There was a 183,900% difference in the highest and lowest sold house prices in England and Wales between January and August this year, according to data from eXp UK.
The most expensive property sale was an apartment in Ashburton Place in the City of London, which sold in June for £38.6m.
At the other end of the market, a terraced home in Cumberland Street in County Durham sold in March for £21,000.
In London, the most affordable home sold in 2023 cost £80,000, meaning the gap between the bottom end of the market and the £38.6m home sold in the City of London was still 48,200% – the largest market gap at regional level.
In the South East, the most expensive home sold in 2023 went for £20.75m, some 47,601% more than the region’s most affordable sale at £43,500.
The South West ranked third, where the most affordable home sold for £35,000, while the most expensive sold for £13.5m – a gap of 38,471%.
The East Midlands was home to the smallest market gap; the most expensive home went for £2.5m, while the most affordable was £30,000, meaning the market gap across the region was 8,235%.
Adam Day, head of eXp UK, said: “Getting a foot on the housing ladder is a tough ask in this day and age and the average cost of a home has spiralled in recent years.
However, the market itself is incredibly fragmented and while average house price data gives us some insight, it certainly doesn’t tell the whole story.
It’s fascinating to see just how large the gap is between the very top and very bottom of the house price rankings and how this gap is sizable regardless of which region you look at.”
