Property prices in London increased by 4 times in 20 years

Prices per square metre of property in London increased by 432% in 20 years , while average UK prices increased by 251% over the past two decades.

Although London continues to dominate as the most expensive place to live in the UK, some parts of the UK outside the South of England can also boast of price per square meter, much higher than the national average, which settled at around £2216.

The most expensive places in the Kingdom are Solihull and Leamington West England, Altrincham in the North-West, the Capital of Scotland is Edinburgh and Harrogate in Ayrshire.

The gap in housing prices between southern England and the rest of the area has increased greatly. Since 2011, the price of real estate in London in two times ahead of the price of real estate in the rest of the UK and the gap continues to grow.

Kensington, Chelsea and Westminster, the three areas in Britain where the price per square meter of property in London exceeded £10000. The average price of one square meter of housing in Kensington and Chelsea average £11321. And despite the fact that last year there was a decrease of prices in the exclusive areas of London by 1% , still the prices in those areas are still 5 times higher than the national average price per square meter – £2216. Average price in Westminster is £10522, followed by the London district of Camden, where the average price of housing has also approached the limit of £10000-namely, £9012. In 17 districts of London the average price of one square meter of the property exceeds £5000.

Six of the ten cities with the lowest price per square meter of housing located outside of England. Four of them are located in Scotland. This is Airdrie with a price of £1,019 per 1 square meter, Lanark with a price of £1,040, Coatbridge price £1,071 and Kilmarnock with a price of £1,120, and two in Wales – Llanelli , where a square meter costs £1,028 and Neath with price meter £1,065.

4 region where the price per square meter of residential real estate fluctuates just above £1000 is located in the North of England.

The cost of one square meter – a convenient measure that allows us to differentiate the price of the property depending on the region. In the 20 years since 1996 the average price of one square meter of property in the UK climbed from £631 to £2216, i.e. 251%. Over the past 5 years, the average price of a square meter rose by 31% from £1696 £2216.

Among the areas of London, the strongest growth rates for one square meter of housing showed Hackney, where prices for 20 years has grown by 821%, which is almost two times higher than the average for London.

® Helen Entree. 20.05.2016 G.

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