First Upgrade

Just for fun give the Ribble bike builder (on their web page) a go. Play with different configurations of frame and groupset. You'll find the campag groupsets cheaper the shimano and SRAM. So try and balance the cost spread over a good groupset with lowish end ally frame that you can upgrade a couple of years down the line. Planetx and quite good - the team Alu frame is a bargain but look at their clearance section (seriously).
Also don't forget decathlon plus wiggle have a regular stock clear out - I think they're still selling focus bikes. Cheap deals on the specialised/trek may be rare as Europe is the last stop for new models (so sayeth the LBS). Scott and cannondale may be a different story. Last but not least your LBS may have deals on - as its nearly winter and don't be shy of Mekk and Cube.

Cough, cough.....
http://road.cc/content/forum/69902-fs-price-reduction-colnago-105-kit-sl...

AND you have enough change for all the essentials.

Regards,

Trikeman.

All bikes at a price point are going to be similar and above £500 all have good frames and kit, don't get sucked in by marketing hype.

As others have said, there's no substitute for visiting shops and trying a few out. A bike that fits you and that you like is more important than anything.

Jimmo is talking sense above. Getting the bike properly fitted is a biggie - make sure you feel like the shop give a monkeys before buying, since the different brands/bikes available at that price are mostly quite similar anyway. Assuming you want/have a helmet, some good shorts and pedals/shoes could be had for £150, so take that into account.

I don't know about the Raleigh, but they are generally thought to be hitting the spot with their recent foray back into road bikes. Giant Defy is popular, well-thought-of.

Whereabouts are you?

Are you therefore looking at a commuter/tourer as opposed to a pure road bike? Mudguards and pannier carrying capability?

Hard to beat Ribble on value but the key is to get it properly fitted so you may be better going to a local shop. Good time of year to buy as last year's models will be reduced. Save some of the budget for decent shoes/pedals and the best shorts you can afford...

What's your budget? If you're looking at doing sportives, would you be prepared to look at road bikes like the Ribble or Planet X range? Tremendous value for money.