How Do Property Prices Differ From One London Location To The Other?

How Do Property Prices Differ From One London Location To The Other?

Everyone knows that property prices are higher in London than the rest of the country, but how do house values differ across the capital?

Unsurprisingly, the postcode W1, which covers Fitzrovia, Mayfair and Soho has the most expensive properties – with even the average studio flat commanding the kingly sum of £1,066,573. If you want a one-bed house, it will cost you an average of £1,850,947, while a four-bedroom family home will set you back £3,497,447. However, when you can count Hyde Park as your local patch of greenery and the West End’s elite shops and bars are just a stroll away, there is no surprise that property in this area is in such high demand.

In London, people who can afford to will pay a high price to live in locations close to vibrant nightlife and stunning parks.

A two-bed flat in the desirable location of St John’s Wood costs £834,381, which is somewhat more affordable than the city centre.

Meanwhile, two-bed flats in the nearby NW1 postcode, which covers Regent’s Park, Primrose Hill, Marylebone and Camden cost an average of £605,492. A three-bed house will fetch £1,327,790, while a luxurious six-bedroom property commands an average price of £6,251,143.

Property used to be more affordable over in east London, but the regeneration introduced by the Olympics has seen prices rise in these areas too.

The average three-bed house in Shoreditch costs £644,091 and in Stratford, the same-sized home is £284,086. Of course, while these areas have Victoria Park, countless bars and restaurants and the recently opened East London line, they have some way to go before they rival the lush green spaces, transport options and exclusive boutiques offered in the more expensive parts of the city.

Appealing areas will attract more demand, so there is the assurance that prices are less likely to go down in affluent areas. Properties in locations such as Mayfair are very popular with foreign investors too, so prices continue to rise even during the British recession.

If you are interested in buying a property in London, call Kubie Gold on 020 7563 7272 today for advice or visit www.kubie-gold.com.