I don't necessarily think there is a catch either. I'm moving over in April after I get married to my Brit and we've been apartment searching. I'm going over in February so we can make the final decision together. We've found really nice, modern flats (and I'm talking American-style fridge/freezers, washers, dryers, diswashers, hardwood floors, etc.) for about 450 - 600 pcm.
The area is just outside Leeds, so the cost of housing is lower. But still, I live in Charlottesville, VA (which is NOT a cheap little town) and the comparable two bedroom apartments here run about $1,000 - $1,200 a month, so there's virtually no difference. Even the nicest, brand new apartments in Leeds city center aren't more than 800 - 900 pcm.