Every 5th apartment in London worth more than £1 million

The prices of houses and apartments in London continue to break world records and every fifth object property in London costs at least £1 million Continues to grow, the gap between house prices in London and other UK cities.

Of course, the greatest concentration of expensive real estate in Central London. In Westminster more than 63% of apartments and houses worth more than £1 million in Kensington and Chelsea – more than 62%, in Camden, at about 43%.

But there are in London and are fairly inexpensive areas in the district Barkin and Dagenham absent on the market real estate is more expensive £1миллиона, in areas of London, Newham, and Waltham Vehla of Forest only 1% of homes for sale are worth £1million or more in Redbridge and Havering – more than £1 million, about 2%, and offering links – 3% in GMT – 5%.

Many, speaking about property in London, just imagine the very expensive housing for millionaires. Indeed, residential property in London still lacks, and, on the background of an imbalance of supply and demand, prices continue to rise. However, in London there are areas with a very reasonable price of apartments – for example, the average price of an apartment in Barkin and Dagenham £253000, which is slightly more than the average price of a property in England. It is remarkable that in London there are areas where none of the properties is not worth £1 million, the Government of London promises to build 200,000 new homes for Londoners by 2020. Such large-scale construction should significantly reduce the pressure on the market from buyers and to bring down the rising prices, making the real estate in London more affordable for ordinary people.

® Alice Morgan. 13.06.2016 G.

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