One of the benefits of PC gaming is that it scales to YOUR budget, not the other way around.
Playing games on low/medium is akin to playing on a console, and you can achieve these results with £400 (or whatever the equivalent in yankeebux is).
The more you spend, the better the results - but obviously spending less will mean you will have to upgrade more often down the line.
£1000 (or equivalent) is enough to max out games nowadays, and this will last you past the upcoming generation of consoles too.
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Thanks for the advice. I'm looking at building a PC rig and have no idea in a price range in pounds xD