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Electric guitars start at around £100, Squire Strats being the usual beginners choice. I haven't looked recently but they used to be in the £170 range. Of course you'll need amplification for an electric, something in the 10 watt range would cost around £70ish.
If you are serious then I suggest you find a guitar shop and take a look around with a price in mind. Either that or buy some sort of guitar publication, they will have shop adds in them with prices etceteras