Buyers should check the market value before they commit, but they should also consider the financial benefit they will receive from the purchase, says the bank.
You may need to pay more for a bigger home, but it could be worth it for a smaller one, says property analyst Richard Johnson.
Read more: Here’s what you need to know about the best deals available on the market to boost your mortgage payments.
But for many, there’s an alternative that’s cheaper.
Here are five ways to get a bigger house for less than the asking price.
This property is on sale at £200k.
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This property is currently on sale for £240k.
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This house is currently priced at £320k.
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This family is currently living in a property in central London.
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This home is currently for sale for £350k.
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This new house is on the move.
Image from Shutterstock 6.
This is a typical modern home in central Sydney.
Image via Citi 7.
This two-bedroom home is on a property near Waverley in NSW.
The property has an open plan layout and the frontage to the garden is open.
The property is priced at $2.8m.
This four-bedroom house is now on sale.
A view from a window shows the views from the street.
It’s currently priced $2.6m.9.
This six-bedroom property is now for sale for $3.4m.10.
This large four-bed home in the City of Sydney has a great view and is on an island in the city.
It is currently for rent at $3.7m.11.
This three-bedroom apartment is now for sale for $4.3m.12.
This terraced four-and-a-half-bedroom flat in the inner west Sydney suburb of Northcote is currently up for sale.
The property features a terrace and a patio.
You’ll need to put down £300,000 to get this place.
This beautiful terrace in Sydney’s Inner West has been listed for £3.5m.
The location means you can relax in the sun at all times.
This apartment in the same suburb is currently selling for $4.5 million.
This luxury apartment in Sydney is currently listed for $5.4 million.
This flat in Melbourne is currently offering a one-bed, two-bathroom flat for $7.2 million.
This room has three bedrooms and a half bathrooms.
This big two-bed flat in a Sydney suburb is for $8.2m.
It features two bathrooms and a bedroom with a king-size bed.
This penthouse apartment in a residential street in Sydney is currently for rent at $10.3 million.
The floorplan includes a terraced balcony and views of the city’s CBD.
This five-bedroom penthouse in Sydney has been listed for $10.6 million.
It’s an amazing penthouse on an amazing street.
This $11.5million apartment in London is currently being sold at £8.7 million.