How Do House Prices in Derby Compare to Other Large Cities in the UK?

Derby is a city that lies on the banks of the River Derwent in the southern section of Derbyshire. It is an urban area with roughly 250,000 inhabitants. The housing market in Derby is a bit slow at the moment with many homes being listed 6 or more months before they are sold. The median price for a home for sale in Derby is £145,000 and there are many properties for sale that will fall under £100,000. The major employers in Derby are Rolls Royce and Toyota although there are many employed at Derby University, the local hospital, and many retail and food service establishments as well. Train service to other major cities in the UK from Derby is quite reliable and there are bus lines for more local commuting. Derby is like other urban areas in that it has good shopping, some fine pubs, and a bit of good night life. Housing prices in Derby are fairly reasonable especially in comparison to other cities.

Derby versus London

There is no city that can compare to London but as everyone knows one pays quite dearly to live in that grand city. The median home price in London is £405,000 and homes tend to be on the market a month or two less than home are in Derby. With homes being on average more than double in price and with far fewer homes being found in the lower price range London is considerably more expensive than Derby. The average three bedroom home in Derby will cost about £153,000 while a similar home in London will be £450,00-£890,000. The savings for choosing Derby are staggering in this case.

Derby versus Manchester

Homes in Manchester are currently staying on the market much closer to one year. With a median home price of £130,865 it is a bit cheaper than Derby. There is, however, a larger portion of inexpensive homes available in Derby at the moment. A three bedroom in Manchester averages about £155,000 which is barely higher than the same home would be in Derby. Bargains can be found in both cities.

Derby versus Birmingham

The median home price in Birmingham is £134,950 and houses tend to stay on the market for about 200 days. Prices appear to be fairly similar to those in Derby as the average three bedroom home in Birmingham is £149,000 which is close to a home in Derb£134,950 although Birmingham may be a bit cheaper, it is not by much.

Derby versus Leeds

In Leeds the median home price is £135,000 and the time on the market is about 220 days on average. A three bedroom home in Leeds will on average cost £154,000 which is pretty much in line with housing in Derby. Like Derby, Leeds tends to have a large number of lower priced homes available.

While home prices do tend to be a bit more up and down these days it is clear that houses in Derby are selling a bit quicker than in other UK cities and that these houses seem to be going for a reasonable price as well which is great news for those looking for a home in the charming city of Derby.

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