HOMEOWNERS in Bradford could save an average of more than £54,000 by downsizing, a study has found.

For each of the UK’s most populated towns and cities, PensionBee took the average asking price of one, two, three, four and five-bedroom properties and calculated the price difference between each, as well as taking an average of these four saving figures.

The research revealed you could save up to £54,133 on average, or 30.50 per cent by downsizing in Bradford, freeing up thousands of pounds to put towards retirement savings.

This ranks Bradford 29th in the top 30 UK cities featured in the study, with only Kingston-upon-Hull below it with an average saving of £35,775.

Here is the breakdown of the Bradford figures: The average price of a five-bedroom house in Bradford is: £280,741; four-bed: £227,588; three-bed: £148,226; two-bed: £103,137; one-bed: £64,209.

The average five to four bed saving is: £53,153; four-three bed: £79,362; three to two bed: £45,089 and two to one bed: £38,928.

The top 10 UK cities where you can save the most money by downsizing (as measured by savings in GBP) are:

1 London £417,881

2 Brighton and Hove £156,636

3 Bristol £148,609

4 Bolton £133,619

5 Bournemouth £131,518

6 Aberdeen £130,814

7 Edinburgh £115,693

8 Leeds £114,006

9 Sheffield £105,474

10 Portsmouth £104,291