How much does one square metre of a property cost in your area?
By Nick Biring on 7 Dec 2017 in Industry News
One square metre is an area the size of a red phone box. So, have you wondered how much one square metre would cost in your area?
According to an analysis of 2016 property prices by the Office for National Statistics (ONS), homes in the most expensive area of England and Wales cost 25 times more than the cheapest area. In Kensington and Chelsea, one square metre would cost £19,439. But in Blaenau Gwent in the South Wales valleys, the same space costs £777.
Property prices per square metre
The average cost per square metre for a property sold in England and Wales in 2016 was £2,395. And it’s no surprise that the top ten most expensive local authorities are in London. Topping the list are:
- Kensington and Chelsea – £19,439 per m²
- City of London – £17,371 per m²
- Camden £12,671 per m²
- Westminster £16,246 per m²
At the cheaper end is Barking and Dagenham – the least expensive London borough. Homes cost £3,994 per square metre.
Outside of London, the most expensive area is Elmbridge in Surrey costing £6,115 per square metre. York, costing £2,655 a square metre is the most expensive area in the North of England.
Where are the cheapest places to buy a property?
Lancashire and South Wales are the cheapest places to buy a property. Homes that cost less than £1,000 per m² were in Burnley and Hyndburn, Merthyr Tydfil, Neath Port Talbot and Blaenau Gwent.
Find out property prices per square metre across England and Wales using an interactive map.