If we replace a "house" with say, a "sofa" then what I would say is:
These are both quite practical, materialistic things. I think in this case, and with @dbgtz; example of electronics too, maybe value does matter a bit more because it's not "sentimental" at all. There's not really thought or love behind the gift choosing (except, this person needs/wants that I should buy it for them as a gift).
If I said maybe if one friend bought you a £30 lamp and one bought you a £5 photo frame with a really lovely photo inside reminding you of a really good time, would you be annoyed at that friend for being a cheapskate?
It's kinda harder with blokes I guess. A lot of things I love are jewellery with meaning behind them - I'd much rather have a pair of earrings with a sentiment behind them than, well, a lamp (even if it's more expensive)!