Almost 4 times increased the price of housing in London over the last 20 years

Areas of London continue to top the list of the most expensive areas to buy property in the UK. First in the list of areas of London Kensington and Chelsea.

Outside of London there are also areas where there is high real estate prices for 1 square meter. For example, a very expensive real estate in the city of Altrincham in Cheshire, in several cities the County Warickshire in the Scottish cities of Edinburgh and Aberdeen.

The Halifax Bank study shows that continues to grow the gap between real estate prices in southern and other parts of Britain. Indeed , in 20 years – since 1995, prices for residential property increased in greater London 388% in greater London and the rest of the UK 227% .

The price for 1 square meter in the most expensive areas of the UK – Kensington and Chelsea – has reached £11635 lbs . It is 6 times more expensive than the national average, which is £2033 per square meter. In Westminster price for one square meter is approaching £10,000 , and has already made £9571 per square meter. About 16 districts in London have an average price of a property up to £5000 per square meter.

Outside of London is much lower. Even in the most expensive areas of England – Altrincham in Cheshire, the average price of housing per square meter is only £413 pounds, or 20% higher than the average for the UK . In the others, even the most expensive cities, housing prices even lower, and the gap with London even more. The Scottish city of Edinburgh – with a price of £2297 £ and Aberdeen with £2281 are the most expensive cities on the North of the UK.

In South Wales – the lowest average price for 1 square meter of residential property throughout the UK – £910 per square meter.

This is 10 times less than the value of the property in areas of London, Kensington and Chelsea. In Wales, generally there are 10 cities with the lowest cost of housing in the UK. 4 cities are located in Scotland.

Areas of London experienced the strongest price growth over the last 5 years by about 45%.

Prices per 1 square meter of housing in the UK over the last 20 years has increased by 227% from £620 in 1995 to £2033 in 2015. But the most impressive growth in housing prices of 1 square was in the London borough of Hackney, where for 20 years the prices rose by 773%, twice exceeding the average growth of prices in London. Outside of London only five cities where housing prices increased significantly over the past 20 years and exceeded the national average. This is Manchester , where there has been a price increase to 251%, Harrogate is 242%, Leamington Spa 241%, Rushden – 237% and Northampton – 236%.

® Maxim Savitsky G. 24.06.2015

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