London is a hub of roller-coaster house prices, new research has revealed, with the cost of a house per square foot varying by hundreds of pounds across the boroughs.
Property buyers searching around Hounslow can expect to pay just £338 per square foot on average, while those with their hearts set on a home in Kensington and Chelsea should prepare to shell out £1,008 per square foot, reveals national housing and regeneration specialist, Keepmoat.
Comparing Kensington and Chelsea and Hounslow highlights that Kensington and Chelsea offers homebuyers £678 per square ft more for their money than Hounslow. With only 9.8 miles between the two cities this is a significant difference for house-hunters to consider and shows savings can be found just by looking a bit further afield.
Less expensive boroughs in Greater London include Tower Hamlets with an average cost of £474 per square foot, followed by Ealing at £406 per square foot, and Hackney with floor space costing an average of £503 per square foot.
To help property buyers with their research process, Keepmoat has collated this data on its website, with the aim of helping home buyers get a much clearer picture of what they can get for their money. The online tool enables home buyers to compare price per square foot in regions, cities and towns across Britain, eliminating the need for time-consuming research.
Eamonn McInerney, homes national sales director at Keepmoat, commented: “While changing house prices always make the headlines, it’s a real benefit to be able to see what these prices mean in terms of the actual space you get for your money. People in Greater London may be tempted by a lower-priced property in Hounslow for example, but they deserve to have clarity about how much room they’ll be getting, and whether they could enjoy more space for their money just a few miles away.”